-- Sprintex (ASX:SIX) is raising about AU$1.1 million through the issue of nearly 1.1 million convertible notes at a price of AU$1 each, according to a Monday filing with the Australian bourse.
The notes will mature on June 30, 2027, and bear interest at 8% per year, per the filing.
Holders of the notes can convert them into Sprintex ordinary shares at any time after June 30 and before their maturity.
The company said it plans to use the funds for general working capital purposes, to expand its sales team, and to fulfill customer orders.