Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Stardust Solar Energy Inc. ( (TSE:SUN) ) just unveiled an announcement.
Stardust Solar Energy Inc. has launched a non-brokered private placement of up to 1,500 senior secured convertible debenture units for gross proceeds of up to $1.5 million, led by Plaza Capital. Each unit comprises a senior secured convertible debenture and common share purchase warrants, with a 24‑month term, 10% annual interest, conversion features at $0.15 per share and warrants exercisable at $0.21, subject to price-adjustment mechanisms and security over all present and after-acquired property and guarantees from its subsidiaries. The company intends to use the net proceeds to advance its solar project in Zambia and for general corporate, marketing and working capital purposes, a move that bolsters its financing for international project development and supports its broader growth strategy in solar markets.
More about Stardust Solar Energy Inc.
Stardust Solar Energy Inc. is a diversified solar royalty company focused on developing recurring revenue streams across residential, commercial and utility-scale markets, and is also a leading provider of residential solar energy solutions.
Average Trading Volume: 104,196
Technical Sentiment Signal: Sell
Current Market Cap: C$6.04M
For an in-depth examination of SUN stock, go to TipRanks’ Overview page.