Capital will be Deployed into Development of New Features for Proprietary Trading Platform
Blackboxstocks Inc. (OTC PINK: BLBX) (“Blackbox”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced that it has closed $1.0 million senior secured loan from Feenix Venture Partners.
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“This financing provides Blackbox with the resources needed to begin development of important new features for our platform, as well as augment our current marketing efforts,” commented Gust Kepler, CEO of Blackbox.
Keith Lee, CEO of Feenix Venture Partners, added, “Blackboxstocks has done an amazing job growing their platform with best-in-class trading analytics for their subscribers. We are excited about partnering with them to further enhance their product offering and build on their momentum.”
Principal payments of $10,000 per month begin in December 2021 with a maturity of November 2022. This term may be extended for an additional year. The loan bears interest at 12% per annum. In connection with the financing, Blackbox retired $100,000 of existing senior debt and paid approximately $134,000 in trade payables.
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