{"id":1000,"date":"2008-03-26T00:15:58","date_gmt":"2008-03-26T07:15:58","guid":{"rendered":"http:\/\/montaraventures.com\/blog\/2008\/03\/26\/polaris-raises-27m\/"},"modified":"2008-03-25T08:16:48","modified_gmt":"2008-03-25T15:16:48","slug":"polaris-raises-27m","status":"publish","type":"post","link":"https:\/\/montaraventures.com\/blog\/2008\/03\/26\/polaris-raises-27m\/","title":{"rendered":"Polaris Raises $27M"},"content":{"rendered":"<p><a href=\"https:\/\/www.polarisgeothermal.com\/eng\/main.html\" target=\"_blank\" >Polaris Geothermal<\/a>, who recently announced a successful well test on their Nicaraguan concession, has recently announced a debt funding round of $27M in exchange for 27,000 units. A unit will consist of $1,000 in 9.5% senior debt, 667 warrants, and 75 penalty rights. The debt is due in 18 months time and will be paid quarterly in arrears. Jacob &#038; Company, the underwriters of the deal, stand to benefit $1.89M for their fee and an option to acquire 7% of the offering.<br \/>\n<br \/>\nThe proceeds from this funding round will be used to retire $8.3M in debt due and the balance will be used for general corporate purposes according to the company. This debt round comes on the heels of a prior $32M private placement completed in July, 2007.<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polaris Geothermal, who recently announced a successful well test on their Nicaraguan concession, has recently announced a debt funding round of $27M in exchange for 27,000 units. A unit will consist of $1,000 in 9.5% senior debt, 667 warrants, and 75 penalty rights. The debt is due in 18 months time and will be paid [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,18],"tags":[],"_links":{"self":[{"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/posts\/1000"}],"collection":[{"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/comments?post=1000"}],"version-history":[{"count":0,"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/posts\/1000\/revisions"}],"wp:attachment":[{"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/media?parent=1000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/categories?post=1000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/montaraventures.com\/blog\/wp-json\/wp\/v2\/tags?post=1000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}