A long-term private investor of Global Payout Inc. agreed to provide financing to the company at a valuation of 10x the share price.
The investor committed to provide additional financing of more than $3.0 million at a 10x valuation for a total investment of more than $5.0 million over the past two years. Global Payout, which provides prepaid payment solutions, expects to use a large portion of proceeds to retire "a substantial percentage" of its convertible debt.
