trending Market Intelligence /marketintelligence/en/news-insights/trending/AoOuaaTucho-JpHpG1P7Zw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

InnSuites Hospitality Trust to invest in UniGen Power

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper

Energy Evolution Podcast

US energy officials push innovation to meet evolving energy needs

Energy Evolution Podcast

Energy futurist sees major challenges for renewables in next 30 years

InnSuites Hospitality Trust to invest in UniGen Power

InnSuites Hospitality Trust agreed to invest at least $1.5 million in power generator technology company UniGen Power Inc. under a 2019 convertible debenture purchase agreement between the parties.

The hotel landlord will buy a 6% $600,000 convertible debenture and a 6% $400,000 convertible debenture to close Feb. 1, 2020.

The investment also includes the right to exercise a class A common stock purchase warrant for 1 million shares at $1.00 apiece, the right to exercise an additional class A common stock purchase warrant for 200,000 shares at $2.25 each and the establishment of a convertible, 6% $500,000 line of credit. The credit line is valid for up to 24 months starting Feb. 28, 2020.

If it funds the debentures and exercises the warrants in full, InnSuites will hold 2.7 million shares, or about 29.35%, of UniGen's class A common stock on a fully diluted basis before an offering.

As part of the deal, UniGen expanded its board to six directors with the addition of InnSuites CEO James Wirth and Executive Vice President Marc Berg.