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Mode Global Holdings PLC - bitcoin banking app company based in London - Completes its recent fundraise. Explains that it conducted the fundraise through an issue of convertible loan notes to new and existing investors that raised gross proceeds of £1.9 million. Notes that some directors subscribed for £65,000. Together with a delayed subscription this will result in overall gross proceeds of £2.0 million.
Adds that the loan notes are unsecured, have a coupon of 8% and will be convertible into Mode shares at a price equal to the lower of 90% of the average mid-market price for a period of five business days before the conversion.
Current stock price: 5.17 pence, down 12% on Wednesday
12-month change: down 89%
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