Linkage Global Inc. Raises $10.83M via Convertible Notes
Ticker: LGCB · Form: 6-K · Filed: Sep 20, 2024 · CIK: 1969401
| Field | Detail |
|---|---|
| Company | Linkage Global Inc (LGCB) |
| Form Type | 6-K |
| Filed Date | Sep 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $10,830,000, b, $800,000, $0.00025, $1, $10,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, convertible-notes, debt-financing
TL;DR
Linkage Global Inc. just sold $10.83M in convertible notes to institutional investors.
AI Summary
On September 18, 2024, Linkage Global Inc. entered into a securities purchase agreement with institutional investors to issue convertible promissory notes totaling US$10,830,000. These notes will bear interest and are convertible into the Company's ordinary shares.
Why It Matters
This financing provides Linkage Global Inc. with capital, potentially for operational expansion or strategic initiatives, which could impact its future growth and market position.
Risk Assessment
Risk Level: medium — Issuing convertible notes can lead to dilution for existing shareholders upon conversion, and the terms of the notes could impact the company's financial leverage.
Key Numbers
- US$10.83M — Convertible Notes Principal (Amount raised through the issuance of convertible promissory notes.)
Key Players & Entities
- Linkage Global Inc. (company) — Issuer of convertible notes
- US$10,830,000 (dollar_amount) — Aggregate principal amount of convertible promissory notes
- September 18, 2024 (date) — Date of securities purchase agreement
- Cayman Islands (location) — Jurisdiction of incorporation for Linkage Global Inc.
FAQ
What is the interest rate on the convertible promissory notes?
The filing states the notes bear interest but does not specify the exact rate in the provided text.
What is the conversion price or ratio for the notes?
The provided text mentions the notes are convertible but does not detail the conversion price or ratio.
Who are the specific institutional investors purchasing the notes?
The filing refers to 'certain institutional investors' but does not name them.
What is the maturity date of these convertible notes?
The maturity date of the convertible promissory notes is not specified in the provided excerpt.
What are the intended use of proceeds from this financing?
The filing does not explicitly state the intended use of the proceeds from the sale of the convertible notes.
Filing Stats: 561 words · 2 min read · ~2 pages · Grade level 19.3 · Accepted 2024-09-20 08:58:01
Key Financial Figures
- $10,830,000, b — in the aggregate principal amount of US$10,830,000, bearing interest at a rate of 8% per annu
- $800,000 — aggregate original issue discount of US$800,000 (the “Notes”), and (ii) 9,3
- $0.00025 — the purchase price equal to par value US$0.00025 per share, which is for pre-delivery an
- $1 — rsion price equal to the lower of (i) US$1.20, or (ii) 70% of the lowest closing p
- $10,000,000 — Investors the right to reinvest up to US$10,000,000 on the same terms and conditions under
Filing Documents
- ea0215247-6k_linkage.htm (6-K) — 10KB
- 0001213900-24-080429.txt ( ) — 11KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Linkage Global Inc Date: September 20, 2024 By: /s/ Zhihua Wu Name: Zhihua Wu Title: Chief Executive Officer, Director, and Chairman of the Board of Directors 2