Blackboxstocks Secures $2 Million Financing Deal

Blackboxstocks (BLBX) has secured up to $2 million in financing. The funding comes from Five Narrow Lane. The initial investment is $250,000.

The financing is tied to a potential merger. Blackboxstocks will receive the funds in stages. Milestones include signing a merger agreement and regulatory filings.

The debentures have a 7% annual interest rate. They mature within 12 months or upon completion of a merger.

Debenture holders can convert their investment into common stock. The conversion price is 175% of the prior day’s market price. There is a minimum conversion price of $5 per share.

Blackboxstocks recently terminated a merger deal with Evtec Aluminium. The company is now exploring other merger opportunities.

This news sent Blackboxstocks shares up over 93% in premarket trading.