LOS ANGELES, March 09, 2021 (GLOBE NEWSWIRE) Following substantial growth in new markets, global automotive technology company SEA Electric Holdings Pty .
Sea Electric LLC: Sea Electric Holdings Pty Ltd. Completes US$42 Million Equity Financing
LOS ANGELES, March 09, 2021 (GLOBE NEWSWIRE) Following substantial growth in new markets, global automotive technology company
SEA Electric Holdings Pty Ltd. (SEA Electric), announced it has closed initial private placement equity financing for total gross proceeds of approximately
US$42 million. The net proceeds from the investment will allow SEA Electric to solidify its position as a market leader in the electrification of commercial vehicles whilst funding its considerable backlog and facilitating more pilot programs with operators.
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With a global headquarters and key leadership in Los Angeles, SEA Electric currently has operations in five countries and more than one million miles of independent Original Equipment Manufacturer ( OEM ) testing and in-service operation in all markets.
Preferred Shares:
to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends currently in the amount of 6.75% annually, to be set by the Board of Directors annually subject to a minimum of 5.50% until 2024; and
on or about the termination date, currently December 1, 2024 (subject to further 5 year extensions thereafter), to pay the holders of the Preferred Shares $10.00 per Preferred Share. Class A Shares:
to provide holders of the Class A Shares with regular monthly cash dividends in an amount to be determined by the Board of the Directors; and
to permit holders to participate in all growth in the net asset value of the Company above $10 per Unit, by paying holders on or about the termination date of December 1, 2024 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Preferred Share.
Sea Electric Holdings Pty Ltd Completes US$42 Million Equity Financing - News Makers newsmakers.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmakers.pk Daily Mail and Mail on Sunday newspapers.
Sea Electric Holdings Pty Ltd. Completes US$42 Million Equity Financing
SEA Electric to Expedite Global Expansion of Proprietary Commercial Electric Vehicle Technology - SEA-Drive(R)
LOS ANGELES, March 09, 2021 (GLOBE NEWSWIRE) Following substantial growth in new markets, global automotive technology company
SEA Electric Holdings Pty Ltd. (SEA Electric), announced it has closed initial private placement equity financing for total gross proceeds of approximately
US$42 million. The net proceeds from the investment will allow SEA Electric to solidify its position as a market leader in the electrification of commercial vehicles whilst funding its considerable backlog and facilitating more pilot programs with operators.