Ideanomics, inc. announced that it has received $2.5 million in funding

Ideanomics, inc. (nasdaqcm:idex) announced that it has entered into a convertible note purchase agreement for a private placement of convertible promissory note for gross proceeds of $2,500,000 on september 27, 2019. the transaction included participation from returning investor id venturas 7, llc. the company has also issued 1,000,000 common shares and a warrant in the transaction. the notes are senior secured and convertible into common shares of the company at a fixed conversion price of $1.84 per share. warrant is exercisable for 150% of the number of shares of common stock which the note is convertible into. the convertible note matures on march 27, 2020 and accrues at a fixed 10% interest rate. the convertible note is guaranteed by company's subsidiaries.
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