OxPay Financial Secures SG$2 Million Convertible Loan from Oxley Capital

MT Newswires

01/20

OxPay Financial (SGX:TVV) has signed a revised convertible loan agreement with Oxley Capital Management for up to SG$2.0 million, according to a Friday filing on the Singapore Exchange.

The loan will be disbursed in four equal tranches over 24 months, with a 6.9% annual interest rate.

Proceeds will be used for working capital. The loan can be converted into shares at SG$0.0234 each, a 10% discount to the market price.

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