Article: Pancake House secures additional capital

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 ...

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