Summary of the completed financial round
- On 30 July 2020, the company adopted a resolution on the allocation of 48,648 series A registered bonds convertible into the company’s series U shares at an issue price of PLN 74 per bond.
- In total, bonds have been taken up in the maximum possible pool of PLN 3,599,952.
- Overall, the company’s proceeds from the issue of shares and bonds are PLN 12,849,952.
On 8 June 2020, the Extraordinary General Meeting adopted a resolution on the issue of series T shares and the issue of bonds convertible into series U shares. The outcome of the completed financial round (the issue of shares and bonds) is PLN 12.85 million raised for the company’s further development. The 2-year bonds were issued at an issue price of PLN 74 and with the redemption date of 30 July 2022. Their interest rate is fixed at 2% p.a.
In June 2020, XTPL raised PLN 9.25 million as a result of an issue of shares acquired by Polish and foreign investors, and by the company’s CEO, Filip Granek. In total, the company’s proceeds from the issue of shares and bonds are PLN 12.85 million.
“We thank investors for their trust, and the CC Group’s team for their support in the fundraising process”
Filip Granek said.
The issue proceeds will be used for R&D, continued commercialization, and extension of the intellectual property portfolio.
XTPL has funds secured for research and development activity until the beginning of 2022, and the funds raised as a result of the financial round will bring the company closer to the goal of a widespread use of the XTPL technology in the industry.