HUMBL Inc (OTCMKTS:HMBL) Stock In Focus After Latest News
Yesterday HUMBL Inc (OTCMKTS:HMBL) was in the news cycle after it announced that it had gone into an equity financing agreement with the firm Pacific Lion LLC. As per the provisions of the agreement, Pacific Lion reached an agreement to buy HUMBL stock worth up to a maximum of $20,000,000.
Trading Data
On Monday, HMBL stock ended flat at $0.0050 with more than 12.27 million shares, compared to its average volume of 24.05 million shares. The stock moved within a range of $0.0045 – 0.0054 after opening trade at $0.0049.
HUMBL Receives Funding Commitment of Up To $21 Million as an Initial Step in a Comprehensive Plan To Recapitalize The Company and Pursue Uplisting to a Major Exchange
However, that was not all. Pacific Lion also agreed to provide HUMBL with a convertible promissory note worth $800000 so as to bridge the company up until the shares to be sold under the equity financing agreement are registered. It was also announced yesterday that other than the agreements with Pacific Lion, HUMBL had also managed to raise as much as $220,000 through sales of warrants and common stock to certain private investors.
In this regard, it is also necessary to point out that if HUMBL chooses to offer Pacific Lion purchase shares, then those shares would be bought by the latter at a 15% discount from the lowest trading price of the stock in the previous 10 trading days. The promissory note would carry an interest rate of 6% and would be due on May 10 next year. It may be a good time to keep an eye on the HUMBL stock.
