Infinite Uptime, Inc. announced that it expects to receive $18.938171 million in funding
April 24, 2023
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Infinite Uptime, Inc. announced that it will issue 29,945 series B-1 preferred shares at an issue price of $2.9445 per share for gross proceeds of $88,173.0525, 795,975 series B-2 preferred shares at an issue price of $3.1408 per share for gross proceeds of $2,499,998.28 and 4,164,544 series B-3 preferred shares at an issue price of $3.926 per share for gross proceeds of $16,349,999.744, for aggregate gross proceeds of $18,938,171.0765 on April 25, 2023. The shares are issued at $0.0001 par value per share. The shares carry non-cumulative dividend rate of 0.001% per annum.
The preferred share will be convertible to common shares at its original issue price. The preferred shares are not redeemable.
THK CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of components for industrial equipment and transportation vehicles. The Company operates in five regional segments. The industrial equipment related business is engaged in the manufacture and sale of equipment components such as linear motion (LM) systems, as well as industrial equipment. The transportation vehicles related business is engaged in the development, design, manufacture and sale of steering parts, suspension parts and brake parts for automobile and two-wheel vehicles. The Company operates in Japan, the Americas, Europe, China, Taiwan, Singapore and Korea.