Proceeds for general purposes
Eros International Plc has entered into definitive agreements with an institutional investor in connection with a registered direct offering of US$27.5 million aggregate principal amount of senior convertible notes due 2020 for gross proceeds of $25 million, before deducting estimated offering expenses.
The Company intends to use the net proceeds for general corporate purposes.
The securities are being offered pursuant to a registration statement on Form F-3 (including a prospectus) and a prospectus supplement for the offering to which this communication relates which have been filed with the Securities and Exchange Commission (the SEC).
The registration statement was declared effective on 2 October 2017, said Eros on 26 Sept 2019 on announcing the equity-linked financing.
Eros International Plc is a Global Indian Entertainment Company that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. fiinews.com