Multibillion Dollar Fund to Invest $52.7 million into Longfin Corp.
January 22 2018 - 8:30AM
Longfin Corp. (“Longfin” or the “Company”) (NASDAQ: LFIN) a leading
global FinTech company, has announced that the Company has entered
into a securities purchase agreement with a multibillion dollar
fund. The institutional investor is investing $52,700,000 through
convertible note instruments (the “Notes”).
Joseph Gunnar & Co., member FINRA/SIPC is the placement
agent.
Key Transaction Details
The Notes consist of (i) Series A Senior Convertible Notes in
the aggregate principal amount of $13,307,705.88 and (ii) Series B
Senior Secured Convertible Notes in the aggregate principal amount
of $39,392,294.12 for consideration. The nature of the investment
will involve (i) an upfront cash payment in the amount of
$8,000,000, and (ii) secured promissory notes payable by the
investors to the Company in the aggregate principal amount of
$38,376,000 (referred to above as the “Investor Notes”). Under the
Investor Notes, the Investors are required to prepay the Investor
Notes to the Company in two equal installments following the
registration of the shares underlying the Notes and Warrants.
Longfin is one of the few players in global FinTech space in
Alternative Finance and Shadow Banking a $72 trillion industry
worldwide.
“To secure funding from this large institutional investor at
current market valuation will enhance the visibility and revenue
growth of the company in a rapid way. We are confident in our goal
of reaching a 250% revenue growth rate organically, and
outnumbering our growth rate in 2017. This funding will also help
Longfin in its acquisition endeavors within the Blockchain powered
Smart Contracts and FinTech space across the globe,” stated Venkat
Meenavalli, Chairman of Longfin Corp.
Safe Harbor Statement
Certain information in this communicative
statement contains “forward-looking statements” about the Company,
as defined within the Private Securities Litigation Reform Act of
1995 or under Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (collectively, “forward-looking statements”); these may not
be based on historical fact, but instead relate to future events.
Forward-looking statements are generally identified by words such
as “projects,” “may,” “will,” “could,” “would,” “should,”
“believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “potential” or similar expressions. Such forward-looking
statements include, without limitation, statements regarding new
and existing services, technologies and opportunities, statements
regarding market and industry segment growth and demand and
acceptance of new and existing services, any projections of sales,
earnings, revenue, margins or other financial items, any statements
of the plans, strategies and objectives of management for future
operations, any statements regarding future economic conditions,
regulatory environment or performance, any statements of belief or
intention, and any statements or assumptions underlying any of the
foregoing. Risk factors and other material information concerning
the Company are described in the Registration statement post
qualification Offering Circular (Amendment No. 9) filed with the
SEC on November 3, 2017 and other Company filings, including
subsequent current and periodic reports, information statements and
registration statements filed with the SEC. You are cautioned to
review such reports and other filings at www.sec.gov. Given these
risks, uncertainties and factors, you are cautioned not to place
undue reliance on such forward-looking statements and information,
which are qualified in their entirety by this cautionary statement.
All forward-looking statements and information made herein are
based on the Company’s current expectations and does not undertake
an obligation to revise or update such forward-looking statements
and information to reflect subsequent events or circumstances,
except as required by law.
About Longfin Corp.
Longfin (“LFIN”) is a US-based, global FinTech
company powered by Artificial Intelligence (AI) and Machine
Learning. The company, through its wholly-owned subsidiary,
Stampede Tradex Pte. Ltd, delivers foreign exchange and finance
solutions to importers/exporters and SMEs. Longfin also provides
cryptocurrency-based financial service for importers/exporters with
Ziddu coins from its blockchain-empowered subsidiary Ziddu.com.
Currently, Longfin has operations in London, Singapore, Dubai, New
York, Miami and India.
IR Contact:
Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email:
lfin@dgipl.com
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