Kitchen Holdings raises only S$750,000 of S$2 million crowdfunding target
CATALIST-listed Kitchen Culture Holdings has raised only S$750,000 of its S$2 million crowdfunding target.
Still, the S$750,000 will be transferred to the company upon completion of the issuance of the non-convertible notes, the group said in an exchange filing on Thursday evening.
It added that it may conduct further campaigns for subsequent rounds of financing to raise up to S$1.25 million again, with these being on the same terms as the initial notes issuance.
Watiga Trust Pte Ltd has been appointed the trustee to handle the funds on the noteholders' behalf. Kitchen Culture executive chairman and chief executive officer Lim Wee Li has pledged a 50 per cent equity stake that he holds in the company in favour of the trustee as security.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Google, US clash over search advertising as trial winds down
Apple rallies most in 18 months on upbeat forecast, buyback
US: Wall St opens sharply higher on soft jobs data
HSBC has no plans to dispose of further businesses, chairman says
Glencore Group nears deal for Shell’s Singapore oil refinery
Chinese share of French EV market slumps after incentives curbed