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$Blue Star Foods (BSFC.US)$ Blue Star Foods gets additional ...

Blue Star Foods gets additional funding
Apr. 17, 2024 1:19 PM ETBlue Star Foods Corp. (BSFC) StockBy: Sinchita Mitra, SA News Editor
Blue Star Foods (NASDAQ:BSFC) said it has secured additional funding to help meet increased demand under its Master Service Agreement and to increase the volume in its soft shell crab operations.
The company said it has entered into a securities purchase agreement with an accredited investor under which the company issued a promissory note in the principal amount of $300K and 500K shares of its restricted common stock.
The firm also issued a convertible promissory note to an institutional investor, in the principal amount of $138K.
The note bears a one-time interest charge of 19% on the date of issuance and an annual rate of 22% thereafter and is due January 15, 2025.
The firm added the note is convertible in the event of default and has a conversion price of 61% multiplied by the market price.
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