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Iconic Labs PLC on Friday said Luxembourg-based investment fund European High Growth Opportunities Securitization Fund has subscribed for a £150,000 fourth tranche of convertible notes. Iconic Labs is a London-based media and technology business focused on acquiring companies that operate in online media, artificial intelligence, and big data gathering, processing and analysis sectors. Shares in Iconic Labs plunged 11% to 0.0055 pence each in London on Friday morning. It said the tranche was under the £3 million financing facility agreed with the Luxembourg-based fund and entered into on September 28. The Luxembourg-based fund’s latest subscription takes the total subscribed under the facility to £700,000, with Iconic Labs issuing 150 convertible notes in return, alongside 468.8 million warrants with an exercise price of 0.016 pence each. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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