Digital Power Lending Posts $8M 506(c) Offering at 14% Interest for a Limited Time on MonthlyInterest.com
August 21 2019 - 5:45AM
Business Wire
Seeks to Raise Capital to Fund Customer Order Backlog of
$43.9 Million Primarily Related to Long-Term and Often Sole-Sourced
Defense Contracts
Digital Power Lending, LLC (“DPL” or the
“Company”) a diversified California Finance Lender (License
No. 60 DBO-77905) announced that it is seeking to raise up to $8
million through an offering to be conducted pursuant to a Rule
506(c) of the Securities Act of 1933, as amended (the
“Offering”) of promissory notes (“Notes”) having a
term of thirty-six (36) months. The Offering is available
exclusively at www.MonthlyInterest.com, the FinTech portal. The
Notes will carry an interest rate of fourteen percent (14%) if the
Note is executed by November 13, 2019. Otherwise, the investors’
Notes will accrue interest at twelve percent (12%) for the full
36-month term of the Note.
DPL is offering the Notes in order to support certain direct or
indirect subsidiaries of DPW Holdings, Inc. (NYSE American: DPW),
to fulfill their customer order backlog of $43.9 million, primarily
related to long-term and often sole-sourced defense contracts.
These subsidiaries consist of Microphase Corporation, Digital Power
Corporation, Enertec Systems 2001, Ltd., Digital Power Limited
(a/k/a Gresham Power, Ltd.) and Power-Plus Technical Distributors,
LLC. All such entities are wholly owned by DPW Holdings except for
Microphase, which is a majority owned subsidiary of DPW
Holdings.
The Notes are offered in denominations of $10,000, with a
minimum investment amount per investor of one Unit ($10,000), which
may be waived by the Company in its sole discretion. All Notes will
mature thirty-six (36) months from the date of issue. The Notes
will accrue interest at a rate of twelve percent (12%) per year;
however, all investors who subscribe for Notes by November 13,
2019, will accrue interest at the promotional rate of fourteen
percent (14%) during the first year of the term of the Note. All
investors must be “accredited investors” as defined under Rule 501
of Regulation D and meet all other suitability standards as set
forth in the Confidential Private Placement Memorandum available at
www.MonthlyInterest.com and contained in the Subscription
Agreement. Investors will be required to verify their accredited
status in compliance with Rule 506(c).
MonthlyInterest.com is an online FinTech portal that facilitates
investments that pay monthly interest. MonthlyInterest.com enables
individuals to invest based on simple portfolio criteria ranging
from the industry sector to the length of the investment and the
interest rate. Each investment pays interest monthly. Investments
span a wide range of sectors including real estate, defense and
homeland security, specialized high-tech manufacturing, commercial
lending, blockchain technology, data centers and data center
management, hospitality ventures as well as other pecuniary
projects of the Company.
“We are very excited to have relaunched MonthlyInterest.com and
to provide investors the opportunity to earn interest on a monthly
basis. We look forward to providing non-dilutive capital to small
businesses as well as to subsidiaries and partner companies of our
parent, DPW Holdings. We believe MonthlyInterest.com is incredibly
disruptive by providing investors the opportunity to invest
directly into companies and technology that will have a global
impact, bypassing traditional banking and lending institutions,”
stated DPL’s CEO William “Billy” Corbett.
About MonthlyInterest.com
MonthlyInterest.com offers investments that pay monthly interest or
monthly dividends. Each of the offerings on MonthlyInterest.com
have different terms depending upon the industry segment in which
the company operates, and the length of the loan as stated by the
offering company. MonthlyInterest.com users have the ability to
select the offering in which they want to invest. To find out more,
please visit MonthlyInterest.com. For any questions, please use the
‘message’ feature on the website, email at info@monthlyinterest.com
or call 888-488-4231.
About Digital Power Lending
Digital Power Lending, LLC (“DPL”) a California limited liability
company, www.DigitalPowerLending.com, is a diversified California
Finance Lender (License No. 60 DBO-77905) that provides funding to
small businesses through secured and unsecured commercial loans and
investments throughout the United States. We provide businesses
with operating capital to finance their growth. The loans are
primarily short-term, ranging from six to twelve months, but may be
of longer duration. We use our financial experience, data
analytics, and a credit scoring model to assess the
creditworthiness of each small business borrower applicant
(“Applicant”). If the business meets our criteria, we set the
initial interest rate according to its credit and financial models.
The final interest rate offered to the borrower will be determined
by the Company’s review of the marketplace. In accordance with the
Company’s business model, we generate revenue through origination
fees charged to borrowers and interest generated from each loan. We
may also generate income from appreciation of any shares of common
stock underlying convertible notes or warrants issued to us in any
particular financing.
We are a wholly-owned subsidiary of DPW Holdings, Inc. (NYSE
American: DPW), or DPW, a diverse holding company with a growth
strategy of acquiring undervalued assets, disruptive technologies
and impactful ventures for incubation and development to reach
their full potential for long-term growth and return on investment
for investors.
Forward-Looking Statements
This press release contains “forward looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements generally include statements that
are predictive in nature and depend upon or refer to future events
or conditions, and include words such as “believes,” “plans,”
“anticipates,” “projects,” “estimates,” “expects,” “intends,”
“strategy,” “future,” “opportunity,” “may,” “will,” “should,”
“could,” “potential,” or similar expressions. Statements that are
not historical facts are forward-looking statements.
Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in DPW
Holdings’ filings with the SEC including, but not limited to, its
Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov
and on DPW Holdings’ website at www.DPWHoldings.com.
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