Tiny KinerjaPay reports investment agreement for $200M

Jan. 07, 2019 11:40 AM ETKinerjaPay Corp. (KPAY)By: Liz Kiesche, SA News Editor10 Comments
  • Nano cap KinerjaPay (OTCPK:KPAYsurges 51% after receiving a signed commitment from PT Investa Wahana Group of Indonesia to invest $200M.
  • Wahana Group commits to subscribe for $100M in Series F shares and $100M in Series G convertible preferred stock.
  • Based on Jan. 4's market close, KinerjaPay's market cap is only $6.6M.
  • KinerjaPay will use proceeds to fund its peer-to-per lending operations, potential acquisitions, and strategic investments; also plans to use part of subscription proceeds to repurchase KinerjaPay stock in the open market.
  • Investment commitment expected to close within 10 days.
  • Previously: KinerjaPay jumps after announcing entry into microlending in Indonesia (June 22, 2018)

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