AudioBoom Raised More Funding



There has been an update in the continuing saga of audioBoom and Triton Digital. Audioboom has managed to raise funding in an effort to secure its operational capital.

Previously, the deal between the two companies was that audioBoom would buy Triton Digital for $185 million in a reverse takeover. Later, it was reported by Radio Ink that “due to insufficient funds, that deal is off and audioBoom is in jeopardy of shutting down.”

RAINN News provides an easy-to-understand explanation of a May 25, 2018, filing on the London Stock Exchange website regarding audiBoom. The company was able to raise 500,000 GBP from an existing investor. The investor is Candy Ventures. Nick Candy is the 90% shareholder of Candy Ventures.

The loan from Candy Ventures is in convertible notes. The announcement says the loan is “pending the completion” of audioBoom’s “current equity fundraise, which is being undertaken to provide additional working capital, investment in additional podcasting content and other growth initiatives.” The deadline to convert the loan notes is set at June 30, 2018.


Leave a Reply

*