Capital will be deployed in the development of new functionalities for the exclusive trading platform
Blackboxstocks Inc. (OTC PINK: BLBX) (“Blackbox”), a hybrid financial technology and social media platform offering proprietary real-time analysis for equity and options traders of all skill levels, announced today have entered into a senior secured loan of $ 1.0 million from Feenix Enterprise Partners.
“This funding provides Blackbox with the resources to begin development of important new features for our platform, as well as to augment our current marketing efforts,” commented Gust Kepler, CEO of Blackbox.
Keith Lee, CEO of Feenix Venture Partners, added: “Blackboxstocks has done an amazing job developing their platform with the best trading analytics for their subscribers. We are delighted to partner with them to further enhance their product offering and build on their momentum. “
Principal payments of $ 10,000 per month begin in December 2021 with a due November 2022. This term can be extended for an additional year. The loan bears interest at the rate of 12% per annum. As part of the financing, Blackbox repaid $ 100,000 of existing senior debt and paid approximately $ 134,000 in trade debt.
About Feenix Venture Partners
Feenix Venture Partners (“Feenix”) is a private investment firm established in 2017 and based in New York. Feenix provides growth capital through debt, hybrids and equity capital to small and medium-sized businesses, primarily in the consumer sector. Feenix is an active investor in the food and beverage, hospitality, direct-to-consumer e-commerce and SaaS businesses. For more information about the company, please visit: www.feenixpartners.com.
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a hybrid financial technology and social media platform providing exclusive, real-time news and analysis to stock and options traders of all skill levels. Our web software uses artificial intelligence enhanced “predictive technology” to detect volatility and unusual market activity that can cause the price of a stock or option to change rapidly. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE and all other options markets, analyzing over 8,000 stocks and up to 900,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated with our dashboard, allowing our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio / video feature which allows our members to broadcast on their own channels to share business strategies and market information within the Blackbox community. Blackbox is a SaaS company with a growing user base spanning 42 countries; current subscription fees are $ 99.97 per month or $ 959.00 per year. For more information, visit: www.blackboxstocks.com
Safe Harbor Declaration
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See the source version on businesswire.com: https://www.businesswire.com/news/home/20201120005172/en/
Stéphanie Prince, Executive Director