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Article: Pancake House secures additional capital
- Article from:
- The Manila Times
- Article date:
- October 9, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Oct 9, 2009. Provided by ProQuest LLC. (Hide copyright information)
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LORENZO family-led Pancake House Inc. said Thursday that it will be raising fresh funds from investors to finance its programmed capital expenditure.
In a disclosure to the Philippine Stock Exchange, Pancake House said it will receive a supplemental investment by Aureos Southeast Asia, L.L.C. and Aureos Malaysia Fund, L.L.C., Pancake House Holdings Inc. and Martin I.P. Lorenzo.
Under their deal, the investors agree to purchase five-year Pancake House convertible notes with an aggregate price of $3 million at currency exchange rate prevailing on the date of issue of the notes.
"[The] notes are convertible to 21.4 million common shares representing approximately 8.26 percent of the ...