SAN DIEGO– Dalrada Corporation (OTCQB: DFCO, “Dalrada”) (“Company”) announces that as of February 4, 2022, Dalrada Financial Corporation (the “Company”) entered into a securities purchase agreement (“SPA“) for issuance and sale of convertible debentures (the “Debentures”) in the aggregate principal amount of $3,000,000. The first Debenture in a principal amount of $2,000,000 was purchased upon the signing of the SPA on February 7, 2022 (the “First Closing”), and the second Debenture in the principal amount of $1,000,000 shall be purchased upon the filing of a registration statement with the U.S. Securities and Exchange Commission registering the resale of the shares of Common Stock underlying the Debenture by the Buyer (the “Second Closing”).
Detailed terms will be included in the Company’s Form 8-K.
The financing aids Dalrada’s continued expansion in the top growth markets of: Technology, Energy, and Health. The financing will aid the Company to expand Empower Genomics, which focuses on COVID and other diagnostic testing, as well as expanding the US division of Likido Limited which will support in the manufacturing of Likido Limited’s high-temperature and environmentally friendly heat pumps.
Dalrada continuously builds on its core practices of engineering, life sciences, and technology while operating under the tenet of bringing innovative products and services to a complex new world. The Company’s subsidiaries respond with alternative solutions that are affordable, available, accessible, and impactful.
