FAVO Capital, Inc Closes $2 Million Bridge Raise Led by D. Boral Capital
Rhea-AI Summary
FAVO Capital (OTC PINK:FAVO) has secured a $2 million private placement through the sale of 8,000,000 shares of common stock and warrants at $0.25 per share. The deal, led by D. Boral Capital, includes warrants to purchase an additional 8,000,000 shares at $0.40 per share, exercisable for five years. The closing is expected on December 11, 2024.
The securities were offered under Section 4(a)(2) of the Securities Act and Regulation D, with FAVO agreeing to file registration statements for the resale of shares. The company plans to use this funding as a step toward its NASDAQ uplisting goal and growth in the Private Credit Sector.
Positive
- Secured $2 million in new funding through private placement
- Warrants could provide additional future funding at $0.40 per share
- Strategic partnership with established investment bank D. Boral Capital
- Progress towards NASDAQ uplisting goal
Negative
- Significant dilution with 8 million new shares being issued
- Additional potential dilution from 8 million warrants
- Shares priced at relatively low $0.25 per share
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORT LAUDERDALE, FL / ACCESSWIRE / December 12, 2024 / FAVO Capital, Inc. (OTC PINK:FAVO), a leading provider of alternative financing solutions in the Private Credit Sector, today announced that it has entered into securities purchase agreements with certain investors to purchase 8,000,000 shares of common stock and warrants to purchase up to 8,000,000 shares of common stock, at a purchase price of
The warrants will be immediately exercisable from the date of issuance at an initial exercise price of
Vincent Napolitano, FAVO Capital's CEO stated, "We are pleased with the initial response we have had from investors through D. Boral Capital, a trusted name in investment banking. Mr. Napolitano continued, "This is the first major step to achieving our long-term goals".
Shaun Quin, FAVO Capital President added, "We believe this significant milestone is testament to the efforts on the entire team. We are committed to our customers, investors and stakeholders and remain focused on growing FAVO as a dominant player within the Private Credit Sector and our focus on our NASDAQ uplisting goal."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
More About FAVO Capital, Inc.
FAVO Capital, Inc. (OTC PINK:FAVO) is a rapidly growing alternative finance company headquartered in Fort Lauderdale, FL. The Company offers personalized alternative finance solutions to emerging, small, and medium-sized businesses. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO intends to be Efficient, Flexible & Durable.
For more information visit: www.favocapital.com
Contact:
Email: info@favocapital.com
Tel: 833.328.6477
More about D. Boral Capital
D. Boral Capital is an investment bank headquartered in New York, NY that provides strategic advisory and financing solutions to middle market and emerging growth companies. D. Boral Capital has a proven track record of providing exceptional strategic advisory to clients across the globe in any sector, with unique access to capital from the USA, Asia, Europe, UAE, and Latin America. D. Boral Capital continues to be a leader on Wall Street, having contributed to deal closings in an aggregate transaction value of over
For more information visit: www.dboralcapital.com
Safe Harbor/Forward-Looking Statements This press release contains certain forward-looking statements including, but not limited to, statements, estimates, and projections of future trends and of the anticipated future performance constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, including, without limitation, statements regarding the Series' expectations, beliefs, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from expected results. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release FAVO Capital, Inc and its Management Team expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.
SOURCE: FAVO Capital, Inc.
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