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OwlTing Group (NASDAQ: OWLS) Receives US$10 Million Investment with up to US$50 Million in Total Funding Available Upon Mutual Consent

OWLS
  • OwlTing Group (NASDAQ: OWLS) secured an initial US$10 million investment from Lind Global Asset Management XV LLC via a Securities Purchase Agreement, with total potential funding reaching US$50 million.
  • The deal includes an initial closing expected around April 6, 2026, followed by up to US$40 million in optional follow-on investments subject to mutual consent.
  • The financing instrument is a zero-interest convertible security with a face value of US$11.5 million, reflecting a 15% original issue discount, maturing in 18 months.
  • Conversion rights are fixed at US$9.00 per share for the initial amount, representing a premium to recent trading levels, while subsequent conversions utilize a price equal to 92.5% of the two lowest daily VWAPs.
  • A 120-day moratorium on conversion is in place to protect shareholder value, during which no common stock conversions may occur.
  • Proceeds will fund the global expansion of OwlPay payment infrastructure, regulatory licensing, strategic acquisitions, & working capital.
  • OwlTing holds 40 state money transmission licenses & operates a Contracted Annual Transaction Capacity exceeding US$5 billion across North America, Asia-Pacific, & Africa.
  • The Investor receives 850,340 warrants exercisable over 60 months at US$7.82 per share, providing 50% warrant coverage on the funded amount.
  • The Company must file a resale registration statement within 45 days of closing, with effectiveness required within 120 days.
  • The Investor is contractually prohibited from short selling, rehypothecating, or lending the securities issued in this transaction.
  • OwlTing retains the right to repurchase outstanding face value at a 5% premium or pay conversion amounts in cash plus a 5% premium.