Smith Electric Vehicles US completes $58M equity private placement
Green Car Congress
MARCH 8, 2011
Smith Electric Vehicles US Corporation announced the issuance and sale of $39 million of Series B Convertible Preferred Stock and the conversion of Bridge Notes and the exercise of related Warrants into $19 million of Series B Convertible Preferred Stock. This prepayment will result in a payment holiday of approximately seven months.
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