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Charging Robotics Inc., based in Tel Aviv, Israel, has entered into a credit facility agreement with certain lenders for up to $3 million. The agreement allows the company to draw funds as needed, starting from the date its shares are uplisted to a national securities exchange. The facility will remain open until the full amount is drawn or the company secures equity financing of at least $3 million.
The credit facility, announced on Sunday, will accrue interest at an annual rate of 12%. Repayment of the principal is tied to the company achieving equity financing totaling at least $3 million, while interest repayment requires financing of at least $5 million.
Additionally, Charging Robotics has issued warrants to the lenders, enabling them to purchase 200,000 shares of the company’s common stock at a price of $15 per share. These warrants will become exercisable on the uplisting date and will remain valid for five years.
This information, based on a recent SEC filing, indicates Charging Robotics’ strategic financial planning as it aims to expand its operations. The securities involved in this transaction have not been registered under the Securities Act of 1933 and are offered under an exemption for offshore transactions with non-U.S. persons.
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