Source: STM.co
| Total Raise | $100,000,000 USD |
| Soft Cap | - |
| Raise Status | Closed |
| Minimum Investment | $100,000 USD |
| Accepted Investors | International Non-US |
| Exemptions | N/A |
| Instrument | Private Credit |
| Token Issuance Info | N/A |
The Company offers a music and financial solutions platform focused on helping artists and labels efficiently track, monetize, and share their digital streaming revenues.
As part of its broader product offering, in early 2020, the Company introduced a cash advance product (“Scale”) that provides advances to artists against their future royalty revenue.
The Originator has an opportunity to provide a $100.0 million Senior Secured Delayed Draw Term Loan Facility (the “Term Notes” or “Facility”) and a $5.0 million Senior Secured Convertible Note (the “Convertible Notes”) to finance the The Company's product and provide balance sheet support as the Company positions for its next equity raise. The Notes will be due four years from closing and shall carry cash interest payable at Base + 11.0%, where the Base Rate is the greater of (i) 1.5% and (ii) 1-month SOFR.
The Convertible Notes will be due three years from closing and shall carry cash interest payable of 6.0% and PIK interest of 2.0%.
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| Blockchain | Contract Address | Block Explorer |
| ZKSync Era | 0x5895024c953bee18D5F026bfcf6259bb2d79E12D | Click here |
