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General

Smit makes further investment in advanced touch developer Sensel

Thursday 29 November 2018 | 11:15 CET | News
Hong Kong-based CAM supplier Smit announced that its subsidiary Smit Holdings completed a further USD 5 million investment by way of preferred stock purchase in Sensel. This gives Smit a 9.22 percent interest in Sensel on a fully diluted basis. Simultaneously, the USD 2 million convertible promissory note issued by Sensel and previously subscribed by Smit HK in February was deemed converted into preferred shares in Sensel, and the entire amount owed to Smit was tendered to Sensel in exchange for preferred stock.

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Categories: General
Companies: SMIT
Countries: World
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