Tempo Automation Secures $7.0M Convertible Promissory Note Facility Strengthening Financial Position and Providing Capital for Optimum Acquisition
"We are delighted to have secured financing that not only bolsters our financial stability but also equips us with the capital necessary to finalize the previously announced acquisition of Optimum Design Associates.
- "We are delighted to have secured financing that not only bolsters our financial stability but also equips us with the capital necessary to finalize the previously announced acquisition of Optimum Design Associates.
- Asia-IO shares our vision of strategic expansion by leveraging our unique data-driven factory automation technology to disrupt the industry," said Joy Weiss, CEO of Tempo Automation.
- Under the terms of the Convertible Promissory Note, up to $4.0 million in aggregate principal amount may be drawn by the Company from time to time upon one or more written requests.
- The Optimum Acquisition is anticipated to close in the second half of 2023, pending the satisfaction or waiver of certain customary closing conditions.