OwlTing Group has entered into a convertible security agreement worth USD 10 million with Lind Global Asset Management XV LLC, managed by The Lind Partners. Access to an additional USD 40 million is available under this agreement.
This NASDAQ-listed fintech company plans to utilize the funds to broaden its OwlPay global payment infrastructure, seek further regulatory licenses, and support strategic acquisitions and working capital requirements. The initial investment of USD 10 million has now been finalized.
Convertible Security Details
The convertible security features a face value of USD 11.5 million, which includes a 15% original issue discount, and does not bear interest. Investors are given the option to convert this into shares at either a fixed price of USD 9 per share or a variable rate equivalent to 92.5% of the two lowest daily volume-weighted average prices over the ten trading days preceding conversion, subject to certain volume restrictions. OwlTing retains the right to repurchase any outstanding convertible securities at a 5% premium.
In conjunction with this agreement, OwlTing will issue warrants representing 850,340 shares, equivalent to a 50% coverage on the funded amount. The terms include a 120-day moratorium period and measures aimed at managing dilution, all designed to balance capital access with shareholder protection.
Post-closing, OwlTing is obligated to file a resale registration statement within 45 days and secure its declaration of effectiveness within 120 days.
OwlPay Growth and Regulatory Landscape
The investment aims to drive the expansion of OwlTing’s global payment platform, OwlPay, which is already achieving substantial traction with over USD 5 billion in Contracted Annual Transaction Capacity across major markets. The company currently holds 40 state money transmission licenses in the United States and has integrated with Visa Direct, with transaction pipelines extending to North America, Asia-Pacific, and Africa.
A representative from The Lind Partners highlighted OwlTing’s regulatory positioning and its multi-billion-dollar transaction pipeline as key factors motivating this investment. An OwlTing official emphasized that the agreement enhances financial flexibility for executing the company’s global growth strategies.
The potential follow-on investments of up to USD 40 million, aside from the initial tranche, are dependent on future agreements and are not guaranteed under the current terms.
