Xtm, Inc. (TSE:PAID) has released an update.
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XTM, Inc. successfully completed an oversubscribed secured convertible debenture offering, raising $11 million, doubling the anticipated $5 million. The debentures, bearing a 12% annual interest rate payable quarterly, are convertible into company units at $0.11 each. This fundraising positions XTM to address the demand for same-day pay among US workers, as highlighted by CEO Marilyn Schaffer.
For further insights into TSE:PAID stock, check out TipRanks’ Stock Analysis page.