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Shekel Brainweigh: Raises US$5M for investment growth

March 27, 2021

Shekel Brainweigh (SBW) has secured an additional US$5 million (roughly A$6.57 million) in funding from an investor
The extra funds will come from Yavneh Group, an Israeli co-operative that’ve signed a convertible note agreement with Shekel
Shareholders will need to sign off on the note agreement, with each note to have a face value of US$1 (about A$1.31) and a four-year maturity date
The investment will help strengthen SBW’s balance sheet and help them to execute an aggressive growth plan
Shekel previously raised $2.1 million in capital via a placement to investors back in January this year
SBW shares are trading down 3.57 per cent at 13.5 cents each