GlobalTech Corporation (OTC: GLTK), a technology holding company specializing in artificial intelligence and big data, has successfully closed a private placement of convertible promissory notes raising $1.4 million in gross proceeds. The financing arrangement, which does not accrue interest unless in default, includes an automatic conversion feature that will transform the notes into common stock at a 15% discount upon a future initial public offering. This funding mechanism provides immediate capital while offering investors potential equity participation in the company's future growth.
The company intends to allocate the proceeds toward three primary objectives: advancing development of AI-powered solutions, expanding into international markets, and pursuing potential strategic acquisitions. This strategic allocation underscores GlobalTech's commitment to driving innovation across artificial intelligence, big data, and frontier technologies through strategic partnerships and scalable platforms. The funding represents a critical step in the company's mission to transform industries through digital innovation and artificial intelligence applications.
D. Boral Capital LLC served as strategic advisor for the transaction, facilitating the private placement that positions GlobalTech to accelerate its growth trajectory in the competitive technology sector. The convertible note structure provides the company with immediate capital to execute its strategic initiatives without immediate interest obligations, while giving investors the opportunity to convert their investment into equity at a favorable rate during a future public offering. Investors seeking additional information about GlobalTech can access the company's latest news and updates through its dedicated newsroom at https://ibn.fm/GLTK.
The successful private placement demonstrates continued investor confidence in GlobalTech's business model and its focus on leveraging artificial intelligence and big data technologies to create transformative solutions. This funding round enables the company to accelerate its research and development efforts while positioning itself for potential market expansion and strategic acquisitions that could enhance its technological capabilities and market reach. The transaction highlights the growing investor interest in companies focused on artificial intelligence and big data technologies, particularly those with clear growth strategies and potential for industry transformation.
