TSLA
Tesla
-- 421.060 NVDA
NVIDIA
-- 134.700 PLTR
Palantir
-- 80.550 AMD
Advanced Micro Devices
-- 119.210 MSTR
MicroStrategy
-- 364.200 
NEWS
Grove Collaborative Announces $15M PIPE Investment from Volition Capital
Grove Collaborative Holdings, Inc. (NYSE: GROV) has announced a $15 million investment from Volition Capital, bringing Volition's total investment to $25 million. The investment was led by Larry Cheng, managing partner at Volition and a Grove board member. Grove plans to use at least $10 million to pay off its outstanding term debt facility by November 30, 2024.
After full repayment, Grove's only remaining debt would be $7.5 million under its asset-based loan facility. In connection with the investment, Grove issued Volition 15,000 shares of Series A' Convertible Preferred Stock, initially convertible into 7,760,761 shares of Grove's Class A common stock at $1.9328 per share, a 45% premium to the 30-day trailing VWAP.
Grove CEO Jeff Yurcisin stated that this investment allows the company to become term debt-free, a key step in their turnaround strategy. The company has delivered four consecutive positive-adjusted EBITDA quarters and forecasts sequential revenue growth in Q4 2024.
After full repayment, Grove's only remaining debt would be $7.5 million under its asset-based loan facility. In connection with the investment, Grove issued Volition 15,000 shares of Series A' Convertible Preferred Stock, initially convertible into 7,760,761 shares of Grove's Class A common stock at $1.9328 per share, a 45% premium to the 30-day trailing VWAP.
Grove CEO Jeff Yurcisin stated that this investment allows the company to become term debt-free, a key step in their turnaround strategy. The company has delivered four consecutive positive-adjusted EBITDA quarters and forecasts sequential revenue growth in Q4 2024.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Lnova : Omg more
Lnova :
Jaguar8 OP Lnova :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Lnova : Omg thank you for covering all this news that happened today! Big news with so many stocks wow
Jaguar8 OP Lnova : As long as I’m not sleepy, or doing my PT, or out for doctor’s appointment, I will be posting.
Lnova Jaguar8 OP : tyy
what a fun day today was
Lnova : Just love all the excitement seeing the news together and watching the action
Jaguar8 OP Lnova : Definitely
and securing profits at the same time