Athena Global Technologies Limited announced a private placement of 1,700,000 convertible equity warrants at INR 17.75 per warrant for gross proceeds of INR 30,175,000 on May 24, 2022. The transaction will include participation from Chairman and Managing Director, M Satyendra for 1,000,000 warrants and Woman Director, M Sunitha for 700,000 warrants. The investor has a right to exercise option to convert and get allotted one equity share of face value of INR 10 each fully paid/up against each warrant within 18 months from the date of allotment of warrants.

The securities are being issued to the promoter group or others pursuant to preferential allotment. The investors would invest 25% of the exercise price of warrants as upfront payment. The remaining 75% would be payable upon exercise of these warrants.

The warrants issued would expire in 18 months from the date of issue. The transaction has been approved by the board of directors of the company and is subject to shareholders approval.