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Stardust Solar Energy Inc. ( (TSE:SUN) ) has shared an update.
Stardust Solar Energy Inc. has closed a non-brokered private placement with Plaza Capital, issuing 1,000 senior secured convertible debenture units at $1,000 each for gross proceeds of $1 million. The financing will support the company’s solar project in Zambia and provide additional funds for general, administrative, marketing, and working capital needs.
Each unit consists of a senior secured convertible debenture bearing 10% annual interest and common share purchase warrants, both with price-adjustment mechanisms subject to TSX Venture Exchange policies and minimum price floors. The debentures are secured by a general security agreement over the company’s assets and guarantees from key subsidiaries, strengthening Stardust Solar’s capital structure while limiting any single investor’s ownership to under 10% through blocking provisions.
More about Stardust Solar Energy Inc.
Stardust Solar Energy Inc. is a diversified solar royalty company and leading provider of residential solar energy solutions. Headquartered in Vancouver and listed on the TSX Venture Exchange and OTCQB, the company focuses on developing recurring-revenue solar projects and related services in international markets.
Average Trading Volume: 103,090
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$5.52M
Find detailed analytics on SUN stock on TipRanks’ Stock Analysis page.