SATO Technologies Raises $867,382 in First Tranche of $1.4M Private Placement
SATO Technologies Corp. raised $867,382 in the first tranche of a private placement, increasing the total offering to $1.4 million. The company issued 8,272,655 units at $0.06375 each and 340 convertible debenture units at $1,000 each. Proceeds will be used for working capital and to settle debt. The offering is subject to regulatory approvals.
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SATO Technologies Corp. completed the first tranche of a private placement, raising $867,382 and increasing the total offering to $1.4 million. The company issued 8,272,655 units at $0.06375 each, generating $527,382, and 340 convertible debenture units at $1,000 each for $340,000.
The warrants allow for share purchases at $0.085 in the first year and $0.10 thereafter until March 16, 2031. Proceeds will fund working capital and settle $34,105 in debt. The offering is pending regulatory approvals and includes a four-month hold period. SATO operates a data center in Quebec and is shifting focus from cryptocurrency mining to AI infrastructure.
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