zSpace completed a Senior Secured Convertible Note Financing on April 11, 2025, securing gross proceeds of $13.0 million, with the potential for an additional $7.0 million. This financing was a crucial step to address immediate liquidity needs and fund working capital.
The Note has an original principal amount of $13.98 million, matures on April 11, 2027, and accrues interest at 6% per annum, guaranteed through maturity. It is secured by a first priority security interest in substantially all of the company's assets, including intellectual property.
Proceeds from this financing were used to fully repay approximately $10.18 million in outstanding principal and accrued interest under existing loan agreements with Itria Ventures LLC. Additionally, zSpace amended its loan agreements with Fiza Investments Limited, extending maturity dates and reducing interest rates on certain agreements, while establishing an intercreditor agreement subordinating Fiza's security interest to the new investor's.
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