HDS International Corp (OTCMKTS:HDSI) a dedicated technology firm announced that it has finalized terms with an institutional investor to grant up to $4.6 million in financing through equity and debt. Further, the Company has acquired term sheets for unsecured debt, preferred equity, and debentures from minimum three entities.
HDS International has negotiated the re-allocation of certain convertible notes that were at first issued to a New York-based asset group. The allocation of the notes is to be end with the understanding that, moving forward, the conversion procedure will be managed in a way that will be well-suited with the interests of HDS International and its shareholders.
The shares reserved for the ‘Notes’ have been finished, and the Company will require to reserve extra shares for these notes once the reallocation is done. The management believes that via shares already issued to SirenGPS, non-affiliates and former management that HDS International has adequate shares available to guarantee for new funds without requiring an instant increase in authorized shares or opting for a reverse stock split.
HDSI worked with its dedicated investment banking arm Source Capital Group, Inc. to negotiate the financing options. The CEO Paul Rauner stated that he is delighted that investment banking firm was able to work on terms for the Company. It has done an excellent job working on the financing that will open new ways for further development.
HDS International Strategic Expansion transaction was the first step taken towards a phased launch of SirenGPS technology. It was to complete the deal for the new management of the company. The second part is to introduce the working capital into the firm that will help the firm to go forward. The funds are must to ensure an exclusive license to SirenGPS technology in HDS International Corp (OTCMKTS:HDSI). In last trading session, the stock price of HDSI declined 9.09% to close at $0.00100.