OwlTing Group has secured a USD 10 million convertible security agreement with Lind Global Asset Management XV LLC, managed by The Lind Partners, with access to up to USD 50 million in total funding.
The NASDAQ-listed fintech firm will use the proceeds to expand its OwlPay global payment infrastructure, pursue additional regulatory licences, and support strategic acquisitions and working capital needs. The closing of the initial USD 10 million investment.
Structure and conversion terms
The convertible security carries a face value of USD 11.5 million, reflecting a 15% original issue discount, and bears no interest. The investor holds the option to convert the face value into shares at a fixed price of USD 9 per share, or at a variable price equal to 92.5% of the two lowest daily volume-weighted average prices during the ten trading days before conversion, subject to volume limitations. OwlTing retains the right to buy back the outstanding face value at a 5% premium.
As part of the arrangement, OwlTing will issue 850,340 warrants to the investor, representing 50% warrant coverage on the funded amount. The company has noted that the agreement includes a 120-day conversion moratorium and dilution management mechanisms, which it describes as measures to balance capital access with shareholder protection.
On the registration side, OwlTing must file a resale registration statement within 45 days of closing and have it declared effective within 120 days of closing.
OwlPay expansion and regulatory footprint
The funding is intended to accelerate growth of OwlPay, OwlTing's global payment platform, which the company reports has surpassed USD 5 billion in Contracted Annual Transaction Capacity across key markets. OwlTing's regulatory infrastructure already includes 40 state money transmission licences in the US, as well as Visa Direct integration, with a transaction pipeline spanning North America, Asia-Pacific, and Africa.
A company official at The Lind Partners cited OwlTing's regulatory positioning and multi-billion-dollar transaction pipeline as central to the investment rationale. A company official at OwlTing described the agreement as providing financial flexibility to execute the company's next phase of global expansion.
The up to USD 40 million in potential follow-on investments, beyond the initial tranche, is contingent on future agreement between the parties and is not guaranteed under the current terms.
