SEFE Signs $2 Million Financing Term Sheet
April 18 2012 - 2:00PM
Business Wire
SEFE, Inc. (OTCBB: SEFE.OB) (“SEFE”) (“The Company”)
announced that it has signed a term sheet for $2 million in
financing through a nonconvertible preferred debenture. The new
funding is expected to help the Company continue to make strides
toward research, development and commercializing its Harmony III
units, while also protecting the intellectual property developed
over the past four years.
A debt structure was chosen rather than equity financing in
order to preserve shareholder value and avoid dilution. The term is
five years and the 8 percent coupon will be paid semiannually.
Completion of the funding is subject to customary closing
documents.
"I am very pleased that our financial partner, Riverbend, LLC,
was able to recognize that our technology and patents represent
significant value," said SEFE CEO Don Johnston, noting that it is
the company's intent, at some point in the future, to do an
additional round of permanent financing to take out this round.
For more information, visit www.SEFElectric.com.
About SEFE, Inc.
SEFE focuses on pushing the boundaries of what’s possible,
embracing innovation and employing the cutting-edge to solve
problems, and offering sustainable solutions to a world hungry for
invention, direction and leadership. SEFE is technology- and
solutions-driven, focusing on developing inventions that provide a
real-world impact and true profitability. So, success is measured
by both a sustainable return on investment, as well as a project’s
sustainability from an environmental perspective.
For more information, visit www.SEFElectric.com.
Forward-Looking Statements
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements regarding our expected future financial position,
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