E-PANGO launches a €4 million bond financing

What's the deal? E-PANGO (EPA:ALAGO) has announced a bond financing programme worth up to €4 million. The deal is structured as convertible bonds — which can be turned into new or existing shares — accompanied by share subscription warrants issued to Hanover Square Investments 1. The programme breaks down into an initial tranche of €200,000 followed by 38 tranches of €100,000 each.

Why now? The company says the financing is meant to guarantee the continuity of its operations, directly addressing the auditor's reservations about financial viability.

Source: webdisclosure.com