GreenBox POS announces closure – GuruFocus.com

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SAN DIEGO, CA, November 09, 2021 (GLOBE NEWSWIRE) – GreenBox POS (GBOX) (“GreenBox” or the “Company”), an emerging fintech company that leverages proprietary blockchain and token technology to create personalized payment solutions, today announced the closing of its previously announced $ 100 million convertible note financing ($ 84 million after deducting an original issue discount).

The Company plans to use the proceeds of the acquisitions, relaunch the Coyni stablecoin custodial revolver and earmark additional working capital for the future growth of the Company. This is an important step in the execution of the Company’s growth plans.

“This funding round not only fuels the next step of progress for GreenBox and our stablecoin spin-off project, Coyni, but also demonstrates our organization’s focus on executing ambitious goals,” said Ben Errez. , President of GreenBox POS. The world of financial payments is ripe for disruption largely based on a legacy architecture and painstaking processes that businesses have to deal with. Now with a fortified balance sheet, GreenBox is a crucial step towards realizing our long-term vision of becoming the financial infrastructure of the new blockchain-based banking future and functioning as point of sale, PayFac, card issuance and full platform. banking form in the world.

The note will mature 24 months from the closing date. The initial conversion price equal to a premium of more than 80% over the market price of the Company’s common shares on October 29e, 2021 sets the value of the company at over $ 700 million upon conversion.

EF Hutton, a division of Benchmark Investments, LLC, acted as the exclusive placement agent for the offering.

The securities have been offered pursuant to a current registration statement on Form S-3 (File No. 333-257798) that GreenBox has previously filed with the United States Securities and Exchange Commission (“SEC”). The offering will be made only by means of a written prospectus supplement and the accompanying prospectus which form part of the registration statement. An electronic prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus relating to such securities will be available on the SEC’s website at www.sec.gov and may also be obtained, when available, by contacting EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or by email at [email protected] or call (212) 404-7002.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described in this document, and there will be no sale of such securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

On GreenBox POS

Green box POS (NASDAQ: GBOX) is an emerging financial technology company that leverages proprietary blockchain and token technology to create personalized payment solutions. The Company’s applications enable an end-to-end suite of turnkey financial products, fraud detection and improving the efficiency of processing large-scale commercial processing volumes for its merchant clients. For more information, we invite you to visit the Company’s website at www.greenboxpos.com.

Disclaimer Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions about future events or the future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are predictions only and speak only as of the date hereof. In evaluating such statements, potential investors should carefully consider the various risks and uncertainties identified in this release and the matters set forth in the documents filed by the Company with the SEC. These risks and uncertainties could cause the actual results of the Company to differ materially from those indicated in the forward-looking statements.

Investor Relations Contact
Marc Schwalenberg
MZ Group – MZ North America
312-261-6430
[email protected]
www.mzgroup.us

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