PASIG CITY, Philippines, July 22, 2021 /PRNewswire/ -- Premiere Horizon Alliance Corporation (PHA), listed on the Philippine Stock Exchange (PHA:PM), is pleased to announce it has entered into a Put Option Agreement (POA) with LDA Capital (LDA) for up to PHP 2,800,000,000 in committed equity over the next thirty-six months.
LDA's investment will help accelerate PHA's expansion projects focused on the growing real estate sector and emerging fintech industry. The capital will also be used to advance the development of SquidPay Technology, a convenient and efficient payment experience for Filipinos, which will be integrated by Q3 of 2021.
PHA will be able to access the equity financing by exercising Put Options whereby PHA has the right, but not the obligation, to draw down from the equity at its discretion. The first Put Option Notice (PON) will be completed within 45 days.
As part of the POA, PHA will grant LDA Call Options to subscribe for 133,000,000 common shares at a premium to the market price of Php 2.26 per share, providing an additional PHP 300,000,000 to PHA.
"PHA is pleased to have secured this alternative investment funding from LDA which will provide the timely equity infusion that will jumpstart the execution of the Company's strategic countryside business initiatives," says Augusto Antonio Serafica, Jr., President & CEO of Premiere Horizon.
"LDA is excited to partner with PHA. Despite the economic slowdown, PHA is well positioned to benefit from rising property prices especially in the new growth centers. We see additional upside in the growth story with the implementation of recent fintech acquisition of SquidPay Technology," stated Warren Baker, Managing Partner of LDA Capital.
About LDA Capital
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. Our team has dedicated their careers to international & cross border opportunities having collectively executed over 200 transactions in both the public and private markets across 43 countries with aggregate transaction values of over US$10 billion. For more information please visit: www.ldacap.com; For inquires please email: info@ldacap.com.
About Premiere Horizon
Premiere Horizon Alliance Corporation is an investment holding company with a vision to develop the countryside through ecotourism, responsible mining and consolidated real estate developments while exploring diversified interests in clean energy, innovative technology and sustainable agriculture. For more information please visit: https://premierehorizon.com/. For inquires please email: investors@premierehorizon.com.
