Nanocap holding company DPW Holdings (NYSEMKT:DPW) surges 24% after announcing it expects to issue $50M in three-year non-convertible promissory notes to raise new capital for a number of uses including the funding of loans through its Digital Power Lending unit.
Expects that the notes will accrue annualized interest of 5%-15% that will be paid rata monthly and will be offered on a continuous basis.
The notes will be available only on an online lending platform operated by its DPL unit.
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