Ostin Technology Group Issues Convertible Note

Ostin Technology Group Co., Ltd. (OST) has released an update.

Ostin Technology Group Co., Ltd. has issued a $1,360,000 convertible promissory note to Streeterville Capital, LLC, with a seven percent annual interest rate, maturing twelve months after the purchase date. The note, effective June 21, 2024, includes a $100,000 original issue discount and $10,000 for transaction expenses, making the purchase price $1,250,000. Payments can be made in cash or conversion into Class A ordinary shares, with various redemption terms detailed in the agreement.

For further insights into OST stock, check out TipRanks’ Stock Analysis page.