ADS-TEC Energy (ADSE) has released an update.
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ADS-TEC Energy has issued an Amended and Restated Secured Promissory Note, renewing and substituting a prior note from August 18, 2023, with a commitment not to exceed the lender’s total commitment by August 31, 2025. The company has pledged to use the loan for working capital and general corporate purposes, and to pay a 10% interest rate annually. Additionally, the company promises to issue a redeemable warrant for the lender to purchase ordinary shares at a set exercise price.
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