Specialty finance company XS Financial Inc (OTCMKTS:XSHLF) could be one of the companies which could well be worth looking into at this point in time by investors. The company is involved in providing equipment financing and capital expenditure services to the cannabis sector in the United States.
Trading Data
On Monday, XSHLF stock ended flat at $0.0780 with more than 16.50K shares, compared to its average volume of 4.47K shares. The stock moved within a range of $0.0780 – 0.0780 after opening trade at $0.0800.
XS Financial Receives $10 Million from Delayed Drawdown of Unsecured Convertible Notes
Yesterday, the company was in the news after it announced that it had finally received the delayed draw to the tune of $10 million. In this regard, it should be noted that the entirety of the principal amount of the unsecured convertible notes stood at $43.5 million. Out of that, as much as $33.5 million had actually been funded and closed back on November 1 last year.
This financing round had actually been led by a big institutional investor and other partners had also been a part of it. In this regard, it should be noted that last month on September 13 the company had actually come into focus after it announced that it had gone into a new lease agreement with the firm Connected International Inc. It was announced at the time that Connected International had been approved for a CAPEX lease facility worth as much as $13 million.
Technical Data
XSHLF stock is trading below the 20-Day and 50-Day Moving averages of $0.10 and $0.11 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.14. The company has a total market capitalization of $6 million.
