NetworkNewsBreaks – FingerMotion Inc. (NASDAQ: F
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Posted On: 08/11/2022 4:09:40 PM
NetworkNewsBreaks – FingerMotion Inc. (NASDAQ: FNGR) Closes on $4M Funding Agreement
FingerMotion (NASDAQ: FNGR), a mobile data, services, and big data analytics company, announced that it has received $4 million in gross proceeds through a funding agreement with Lind Global Fund II, LP, which is an investment fund managed by New York-based institutional fund manager The Lind Partners. According to the announcement, the funds will provide transformational growth capital to scale Fingermotion’s business segments. The company noted that the funds are in the form of a securities purchase agreement that Lind Global purchased from FingerMotion, and the company has issued and sold to Lind Global a $4.8 million senior convertible note and a common stock purchase warrant that entitles the holder to acquire up to 3,478,261 shares of common stock of the company. “We are very pleased to have The Lind Partners as a significant FingerMotion investor,” said FingerMotion CEO Martin Shen in the press release. “The proceeds from this investment will be primarily allocated across multiple high-margin and high-growth opportunity initiatives currently underway. In particular, the company’s highest priority initiative is the full-scale nationwide rollout of its mobile device protection business in China. This vertical is expected to yield the highest return on capital investment in the shortest amount of time, both strengthening our balance sheet and enabling us to experience transformational revenue growth over the next 12–24 months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
FingerMotion (NASDAQ: FNGR), a mobile data, services, and big data analytics company, announced that it has received $4 million in gross proceeds through a funding agreement with Lind Global Fund II, LP, which is an investment fund managed by New York-based institutional fund manager The Lind Partners. According to the announcement, the funds will provide transformational growth capital to scale Fingermotion’s business segments. The company noted that the funds are in the form of a securities purchase agreement that Lind Global purchased from FingerMotion, and the company has issued and sold to Lind Global a $4.8 million senior convertible note and a common stock purchase warrant that entitles the holder to acquire up to 3,478,261 shares of common stock of the company. “We are very pleased to have The Lind Partners as a significant FingerMotion investor,” said FingerMotion CEO Martin Shen in the press release. “The proceeds from this investment will be primarily allocated across multiple high-margin and high-growth opportunity initiatives currently underway. In particular, the company’s highest priority initiative is the full-scale nationwide rollout of its mobile device protection business in China. This vertical is expected to yield the highest return on capital investment in the shortest amount of time, both strengthening our balance sheet and enabling us to experience transformational revenue growth over the next 12–24 months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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