The placement "will improve its cash flow to further support the working capital requirements of the group, which includes the upcoming production of the Scorpio Electric X1 and development of future Scorpio Electric products," says EuroSports.
EuroSports Global plans to raise up to $3.3 million by placing out convertible bonds, in yet another round of fundraising to drive the growth of its electric scooter venture, Scorpio Electric.
The bonds, to be placed out by Evolve Capital, are for a three-year term and carry an interest of 4%.
