Workhorse Stock Trades Higher After Receiving $200M In Convertible Note Financing



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Workhorse Group Inc. (NASDAQ: WKHS) looks to provide drone-integrated electric vehicles to the last-mile delivery sector.

What Happened: On Monday, the company entered into a note purchase agreement worth $200 million, which will allow it to sell 4% of its Senior Secured Convertible Notes due 2024 to two institutional lenders. The money will be used to increase and accelerate production volume, and advance new products to market.

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“With this financing in place, we can more quickly advance our production efforts heading into 2021 by increasing our supply chain component volumes, hiring more manufacturing employees and automating certain sub-assembly processes,” said Workhorse CEO Duane Hughes.

See Also: Workhorse Short Seller Says USPS Bid Unlikely To Pan Out

Why It’s Important: This latest funding brings legitimacy to Workhorse’s business, and to electric service vehicles as a whole. Amazon.com, Inc. (NASDAQ: AMZN) recently showed its electric delivery

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SPI Energy Co., Ltd. Amends Terms of Convertible Bond Financing

SANTA CLARA, CA / ACCESSWIRE / October 8, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the “Company”), a global provider of photovoltaic (PV) solutions for business, residential, government, and utility customers and investors, today announced that it entered into an amendment agreement with respect to the Company’s convertible bond financing with Magical Glaze Limited, pursuant to which agreement the repayment of US$6.6 million and US$ 13.4 million of the a principal amount of US$20 million is due by October 8, 2020 and March 31, 2021, respectively.

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global provider of photovoltaic (PV) solutions for business, residential, government, and utility customers and investors. The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan

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Kuuhubb Announces US$1.3 Million Non-Convertible Debenture Financing

Kuuhubb Announces US$1.3 Million Non-Convertible Debenture Financing

TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Kuuhubb Inc. (“Kuuhubb” or the
“Company”) (TSX- V: KUU), a mobile game development and publishing company
focused on providing the female audience with creative interactive gaming
experiences, is pleased to announce a proposed non-convertible debenture
financing (the “Offering”) for gross proceeds of up to US$1,300,000. The
Offering will be composed of secured debentures (“Debenture”), and each
Debenture will have a face value of US$29,500.

Each Debenture shall mature twenty-four (24) months from the date of closing
(the “Maturity Date”) and bear interest at a rate of 12% per annum, which will
be calculated and payable quarterly. The payment of the Debentures shall be
secured by a security interest granted by the Company in respect of certain
intellectual property licences held by a wholly-owned subsidiary of the
Company.

It is expected that the subscribers under the Offering 
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ZK International Group Co., Ltd. Announces $1.4 Million Convertible Note Financing

WENZHOU, China, Sept. 24, 2020 /PRNewswire/ — ZK International Group Co., Ltd. (ZKIN) (“ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced that it has set the terms of a convertible note financing for aggregate gross proceeds up to $1.4 million (the “Convertible Notes”).   

The offering is expected to close on or about September 25, 2020, subject to the satisfaction of customary closing conditions. The Convertible Notes may be convertible into up to 2,370,968 Company’s ordinary shares. Further details of the use of proceeds of this offering will be outlined on or about the closing.

The Convertible Notes and underlying ordinary shares are being offered pursuant to a shelf registration statement on Form F-3 (File Number: 333-230860) filed with the U.S. Securities and Exchange Commission (the “SEC”)

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Arizona-based Used Truck Dealer Now Accepting Two Auto Service Financing Programs

Trucks Only now accepts Snap Finance and Synchrony Bank auto service financing plans

MESA, Ariz. (PRWEB) September 22, 2020

Trucks Only—the used truck dealership group with locations in Mesa and Apache Junction, Arizona—is now accepting payment plans from Snap Finance and Synchrony Bank financing institutions. These options can be used to finance general automotive service, serious repairs or truck customization projects.

Snap Finance is intended for smaller repairs. It offers up to $3,000 almost instantly for automotive work. Snap Finance also requires no credit check due to utilizing a lease-purchase agreement system. Interested parties can learn more on the Snap Finance webpage.

Synchrony Bank is a more traditional financing system. With that structure comes many client-side perks and incentives, such as more purchasing power with more time to pay, $0 fraud liability, promotional financing and rewards programs, free credit score monitoring and more. Synchrony Bank also has a tool that

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Colombia’s Avianca files bankruptcy financing plan, including convertible loan

Adds statement from United Airlines

SAO PAULO, Sept 22 (Reuters)Colombian airline Avianca Holdings AVT_p.CN on Tuesday said it had submitted for court approval a $2 billion bankruptcy financing plan that includes a $700 million convertible loan.

Avianca, Latin America’s second largest airline, filed for bankruptcy in May after years of financial struggles that were made worse by the coronavirus pandemic.

In a court filing, it acknowledged it had a hard time obtaining lenders interested in financing the carrier’s restructuring.

The convertible loan portion, however, could raise red flags. Rival LATAM Airlines Group LTM.SN, which is also in bankruptcy, had its financing plan rejected earlier this month because a convertible loan portion was seen as too beneficial to current shareholders.

Overall, Avianca’s financing plan includes $1.2 billion of new money, of which about a quarter is expected to come from the government of Colombia, where Avianca maintains

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LiveXLive Media, Inc. Closes $15.0 Million Financing with an Existing Institutional Shareholder Convertible at $4.50 Per Share

LOS ANGELES, Sept. 17, 2020 /PRNewswire/ — LiveXLive Media, Inc. (Nasdaq: LIVX) (“LiveXLive”), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, announced today that it has completed a $15.0 million senior secured convertible note financing with a major existing institutional shareholder.

LiveXLive CEO and Chairman, Robert Ellin, commented, “With LiveXLive experiencing momentum across the core segments of our business, adding $15 million of cash gives us both the liquidity and the balance sheet strength to accelerate some near-term growth opportunities, namely across subscription, distribution, pay-per-view and podcasting. We appreciate the confidence our institutional investor has shown by making this investment in both our management team and business model.”

LiveXLive’s talent-centric platform is focused on providing outsized value to superfans and building long term franchises in audio music, podcasting, OTT linear channels, pay-per-view, and livestreaming. Its model includes multiple

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LiveXLive Media, Inc. Closes $15.0 Million Financing with an Existing Institutional Shareholder Convertible at $4.50 Per Share | News

LOS ANGELES, Sept. 17, 2020 /PRNewswire/ — LiveXLive Media, Inc. (Nasdaq: LIVX) (“LiveXLive”), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, announced today that it has completed a $15.0 million senior secured convertible note financing with a major existing institutional shareholder.

LiveXLive CEO and Chairman, Robert Ellin, commented, “With LiveXLive experiencing momentum across the core segments of our business, adding $15 million of cash gives us both the liquidity and the balance sheet strength to accelerate some near-term growth opportunities, namely across subscription, distribution, pay-per-view and podcasting. We appreciate the confidence our institutional investor has shown by making this investment in both our management team and business model.”

LiveXLive’s talent-centric platform is focused on providing outsized value to superfans and building long term franchises in audio music, podcasting, OTT linear channels, pay-per-view, and livestreaming. Its model includes multiple

Read More

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Why Financing Your Car Loan at a Credit Union Is a Smart Choice

When you’re buying a new or used car, people typically go straight to the local dealership. While dealerships make their own financing programs sound especially attractive, it’s always to your benefit to shop around for the best auto loan rates-starting with local credit unions. Here are some reasons why you’ll find better auto loan rates and more personalized service at a credit union.

You have a much better chance of getting your loan approved if you have second-rate credit or have had some credit problems in the past. They will more likely listen to your personal story over a traditional commercial bank.

A credit union is different than a traditional bank or other lending institution. They offer loans and other financial services to people through a cooperative membership and it is much more than just a place to house a checking or savings account. They show their members financial interest … Read More

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Why Should You Opt For Dealership Financing?

If you are scanning through used cars or new cars for your next purchase, there is a good chance that you may choose auto loans as your preferred option of financing. Due to the current state of economy, not many potential car buyers pick cash payment for the purchase of their new car. A majority of the drivers opt for auto loans. There are numerous ways of obtaining finance for the purchase of your new car, some methods being simpler than the rest. Dealership financing is one of the preferred methods that not only helps you in getting a tailor-made auto loan, but also eases the whole process of acquiring a new car.

How is Dealership Financing different?

Typically, dealership financing is when the dealers extend a loan to their customers. Simply put, it is an in-house financing method wherein either; the dealer will himself finance the auto loan or … Read More

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