HUMBL Inc (OTCMKTS:HMBL) announced this morning that it had closed two new financings that totaled $2,500,000 and that has sent the stock soaring by 10%.
The two financings that have been procured by the company are going to be used as a bridge by way of which HUMBL is going to get its equity financing deal that is worth $50,000,000. In addition to that, the two financings have also boosted the amount of free cash in the company’s coffers.
As of today, HUMBL boasts of free cash to the tune of $6,005,615 in its bank account. This particular round of fresh financings also included investment in HUMBL from Australia and the United States. One of the investor groups was issued $1,530,000 in the form of convertible promissory notes in exchange for a cash injection of $1500000. The investors were also awarded warrants that will allow them to acquire as many as 3000000 shares of its common stock.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.