Advent Technologies Holdings, Inc. announced a new financial agreement with Hudson Global Ventures LLC. According to the company, Hudson has extended a loan to Advent Technologies, documented by a Convertible Promissory Note amounting to $235,000, which includes a $25,000 original issue discount. The note carries an annual interest rate of 12%. As part of the agreement, Advent Technologies will issue a pre-funded warrant to Hudson, enabling them to purchase 130,000 shares of Advent's common stock at an exercise price of $0.0001 per share. The warrant includes adjustment mechanisms for dilutive issuances and grants Hudson certain purchase rights and rights to distributions and dividends during its term.
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