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Thursday, April 19, 2012 12:18:59 AM
SEFE Signs $2 Million Financing Term Sheet
BOULDER, Colo., Apr 18, 2012 (BUSINESS WIRE) -- SEFE, Inc. (OTCBB: SEFE.OB) ("SEFE") ("The Company") announced that it has signed a term sheet for $2 million in financing through a nonconvertible preferred debenture. The new funding is expected to help the Company continue to make strides toward research, development and commercializing its Harmony III units, while also protecting the intellectual property developed over the past four years.
A debt structure was chosen rather than equity financing in order to preserve shareholder value and avoid dilution. The term is five years and the 8 percent coupon will be paid semiannually. Completion of the funding is subject to customary closing documents.
"I am very pleased that our financial partner, Riverbend, LLC, was able to recognize that our technology and patents represent significant value," said SEFE CEO Don Johnston, noting that it is the company's intent, at some point in the future, to do an additional round of permanent financing to take out this round.
For more information, visit www.SEFElectric.com.
About SEFE, Inc.
SEFE focuses on pushing the boundaries of what's possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project's sustainability from an environmental perspective.
BOULDER, Colo., Apr 18, 2012 (BUSINESS WIRE) -- SEFE, Inc. (OTCBB: SEFE.OB) ("SEFE") ("The Company") announced that it has signed a term sheet for $2 million in financing through a nonconvertible preferred debenture. The new funding is expected to help the Company continue to make strides toward research, development and commercializing its Harmony III units, while also protecting the intellectual property developed over the past four years.
A debt structure was chosen rather than equity financing in order to preserve shareholder value and avoid dilution. The term is five years and the 8 percent coupon will be paid semiannually. Completion of the funding is subject to customary closing documents.
"I am very pleased that our financial partner, Riverbend, LLC, was able to recognize that our technology and patents represent significant value," said SEFE CEO Don Johnston, noting that it is the company's intent, at some point in the future, to do an additional round of permanent financing to take out this round.
For more information, visit www.SEFElectric.com.
About SEFE, Inc.
SEFE focuses on pushing the boundaries of what's possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project's sustainability from an environmental perspective.
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