Naked Brand Group (NASDAQ:NAKD) rallies after the company inks a deal with TokenPay Swiss AG for a $1.5M private placement of ordinary shares.
TokenPay Swiss AG is one of Naked's largest institutional shareholders and in conjunction with the strategic investment, Naked and TokenPay agreed to integrate TokenPay and Bitcoin with its direct to consumer online payment portals.
Deal terms: The ordinary shares were sold at a per share price of $0.25 pursuant to a subscription agreement with Naked. TokenPay Swiss AG was also granted warrants of 1M shares at a $0.25 strike price.
Naked intends to use the proceeds from the private placement for working capital, general corporate purposes and the integration of TokenPay.
Shares of NAKD are up 9.76% premarket to $0.27.
Source: Press Release
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