Vividthree to Raise Over S$3 Million for Digital Entertainment Expansion

MT Newswires07-15

Vividthree (SGX: OMK) plans to raise approximately SG$3.2 million through the placement of new shares and issuance of convertible bonds, according to a Friday filing on the Singapore Exchange.

The fundraising entails issuing new ordinary shares priced at SG$0.027 each, constituting up to 24.9% of the company's total outstanding share capital.

Additionally, Vividthree will offer unsecured convertible bonds with a face value of SG$100,000 each, carrying a 6% annual coupon and maturing in three years. Investors can convert each SG$1 of convertible bonds into shares at SG$0.06 per share, with an additional 2% interest applicable upon early redemption.

Key investors participating in this initiative include Hildrics Asia Growth Fund VCC, Ever Pine Capital SPC, and individual private investors.

The proceeds from this fundraising drive will primarily support Vividthree's expansion into arcade centers, immersive VR experiences, and family-oriented karaoke venues.

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