Canadian investment fund SOL Global makes binding commitment for $10 million private placement of bonds

Odaily News Canadian investment fund SOL Global announced that it has signed a binding letter of intent to sell SOL Global's unsecured convertible bonds with a principal amount of C$10 million. The bonds will be funded in the form of upfront payments of US$2 million upon closing and four additional upfront payments of US$2 million every 60 days thereafter. The letter of intent is a binding commitment to the buyer and the transaction is expected to be completed on or before January 30, 2025, subject to the execution of the definitive subscription agreement and the bonds and the satisfaction of certain customary conditions, including but not limited to obtaining all necessary regulatory and other approvals, and subject to the policies of the Canadian Securities Exchange. (thestreet)