Energy Mad secures $284,000 in funding from shareholder Superlife

Energy Mad, the energy efficient lightbulb marketer, secured $284,000 in funding from shareholder Superlife to help support its local and overseas growth plans.

The Christchurch based company has fully drawn down the funding, which was via a three year convertible note, with an option to extend it for a year, Energy Mad said in a statement. The note attracts annual interest of 13.5 percent, and if Superlife decides to convert the debt to ordinary shares, it will be the lower of either 13 cents apiece, or the average price over five days prior to conversion.

Fund manager Superlife has built up a 19.4 percent stake in Energy Mad since injecting $1 million into the company in late 2012. If it converted the notes to shares at 13 cents apiece, that would lift Superlife's stake in the company to about 23 percent.

Shares of Energy Mad were unchanged at 20 cents, and have dropped 17 percent this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PEB - Chair to Seek Re-Election; Director Nominations
Devon Funds Morning Note - 16 June 2025
TRU - Key Markets Update
THL receives unsolicited non-binding offer
June 16th Morning Report
CHATHAM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Radius Care Upgrades FY26 Outlook
June 13th Morning Report
June 12th Morning Report
PGW Governance Update