SEFE Signs $2 Million Financing Term Sheet
Last update: 4/18/2012 2:00:00 PM
BOULDER, Colo., Apr 18, 2012 (BUSINESS WIRE) -- SEFE, Inc. ("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.
