TMT Investments PLC Conversion of promissory note in Graphicly (8077M)
August 30 2013 - 2:01AM
UK Regulatory
TIDMTMT
RNS Number : 8077M
TMT Investments PLC
30 August 2013
30 August 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Conversion of promissory note in Graphicly, Inc.
TMT Investments PLC, which invests in high-growth internet-based
companies across a variety of sectors, is pleased to announce that
on 28 August 2013, its portfolio company Graphicly, Inc.
("Graphicly") completed the initial closing of a new equity
financing round. Pursuant to the terms of the Company's convertible
promissory note in Graphicly (the "Note"), the outstanding
principal and unpaid accrued interest of the Note amounting to
US$358,458 was automatically converted into Graphicly's preference
shares. After the new equity financing round is completed, TMT will
hold approximately 8.47% of Graphicly's fully-diluted equity
capital. The transaction represents an uplift of approximately
US$130,000 (or 36%) in the fair value of TMT's original investment
in Graphicly.
TMT's original investment in Graphicly was made on 3 April 2013
and consisted of a US$350,000 secured convertible promissory
note.
Incorporated in Delaware and headquartered in Palo Alto,
California, Graphicly makes it easy for leading publishers and
self-published authors to bring their eBook content to market.
Publishers and self-published authors benefit from Graphicly's
powerful eBook SaaS platform to convert, manage, distribute,
promote and track text and image-based eBook content on all major
digital publishing platforms including Amazon Kindle, Apple iBooks,
Nook, Kobo, the Web and other platforms. Graphicly has attracted
over 6,000 publishers across a variety of eBook content including
graphic novels, comic books, children's books, art books, magazines
and more. www.graphicly.com
For further information contact:
TMT Investments PLC +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance Ltd.
NOMAD and Broker
Marc Cramsie/Irina Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010,
TMT has raised USD28m and invested in 26 companies to date. The
company's objective is to generate an attractive rate of return for
shareholders, predominantly through capital appreciation. The
company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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