Ignite International Brands, Ltd. BILZ BILZF announced Tuesday that it has completed the second series of its non-brokered private placement of convertible debentures for aggregate gross proceeds of CA$10 million ($7.56 million).
The company said it plans to use the net proceeds from the offering for general corporate purposes.
Upon successful completion of the second series subscription, Ignite International said it decided to close the offering immediately, meaning the closing will occur before the fiscal year ends.
- Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
- Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
- Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.
Related: Dan Bilzerian's Ignite International Sees Surge In Trading Volume
In the second series of the closed offering, each unit issued consisted of CA$1,000 principal amount of unsecured convertible debentures with 8% interest per annum and 250 subordinate voting share purchase warrants of the company. Units were sold for CA$1,000 per unit.
The maturity date of the convertible debentures is Dec. 10, 2022.
Ignite International shares were trading down 2.8% at $1.04 at the time of publication Wednesday.
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