Transaction Information
FAVO Capital, Inc. (OTC PINK:FAVO), a leading provider of alternative financing solutions in the Private Credit Sector, today announced that it has entered into securities purchase agreements with certain investors to purchase 8,000,000 shares of common stock and warrants to purchase up to 8,000,000 shares of common stock, at a purchase price of $0.25 per share and accompanying warrant. The gross proceeds to the Company from the private placement are expected to be approximately $2.0 million before deducting the placement agent’s fees and other estimated offering expenses. The warrants will be immediately exercisable from the date of issuance at an initial exercise price of $0.40 per share, subject to adjustments as set forth therein, and will expire five years from the date of issuance. The closing of the private placement is expected to occur on December 11, 2024, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.
D. Boral Capital is acting as the exclusive placement agent for the offering.
About FAVO Capital, Inc.
FAVO Capital, Inc. (OTC PINK:FAVO) is a rapidly growing alternative finance company headquartered in Fort Lauderdale, FL. The Company offers personalized alternative finance solutions to emerging, small, and medium-sized businesses. “FAVO” is “Honeycomb” in Latin – The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO intends to be Efficient, Flexible & Durable.
About D. Boral Capital
D. Boral Capital LLC is an investment bank headquartered in New York which provides advisory and financing solutions to middle market and emerging growth companies. The Company has a proven track record of offering strategic guidance to clients across the globe in any sector, with access to capital from the USA, Asia, Europe, UAE, and Latin America.
D. Boral Capital is a leader on Wall Street, having aggregated over $23 billion in capital across approximately 300 transactions through various product types.