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The latest announcement is out from Snipp Interactive ( (TSE:SPN) ).
Snipp Interactive has closed a non-brokered private placement of senior secured convertible debentures, raising C$4.5 million from a group of strategic investors led by Shen Capital Partners. The financing, which also includes participation from long-standing shareholder Lark Investments, will support the company’s growth initiatives and general working capital needs.
The debentures carry a 3.45% annual interest rate, mature in three years, and are secured by a first-ranking security interest over all present and future assets of the company and its key subsidiaries. They are convertible into units comprising common shares and warrants at tiered conversion prices, with additional forced conversion and warrant acceleration features that could meaningfully expand Snipp’s equity base if its share price appreciates, potentially strengthening its capital structure and supporting its growth trajectory.
The most recent analyst rating on (TSE:SPN) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Snipp Interactive stock, see the TSE:SPN Stock Forecast page.
Spark’s Take on TSE:SPN Stock
According to Spark, TipRanks’ AI Analyst, TSE:SPN is a Neutral.
The score is held back primarily by weak and inconsistent profitability with negative free cash flow, despite improving revenue and a sharp gross margin step-up. Technicals are mildly bearish (below key longer-term moving averages with negative MACD), and valuation signals elevated risk due to losses and no stated dividend yield.
To see Spark’s full report on TSE:SPN stock, click here.
More about Snipp Interactive
Snipp Interactive Inc. is a Vancouver-based Platform-as-a-Service company operating in the global loyalty and promotions sector. It provides an enterprise platform used by leading global brands to run loyalty programs and promotional campaigns, with a focus on scalable, category-leading solutions for both Canadian and U.S. clients.
Average Trading Volume: 164,251
Technical Sentiment Signal: Sell
Current Market Cap: C$10.44M
See more insights into SPN stock on TipRanks’ Stock Analysis page.