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Great Basin Secures $75 Million Funding Commitment In Senior Convertible Notes

"We appreciate the continued support of our institutional investors," said Jeff Rona, chief financial officer of Great Basin. "We value the vote of confidence we believe this financing represents. These institutions have supported us for some time and have seen the Company's consistent delivery on our customer and menu expansion targets, and recognize the enormous opportunity Great Basin has ahead."

Roth Capital Partners acted as sole placement agent for the offering. Additional Transaction Details Six months after close of this transaction and receipt of shareholder approval, the Notes will be convertible into the Company's common stock at a conversion price of at $2.00 (the Original Conversion Price) into a fixed number of shares. Seven months after close of this transaction and receipt of shareholder approval, the Notes will amortize on a straight-line basis over 18 months. The Notes' principal may be repaid, at the Company's election, in either cash (including restricted cash) or, subject to certain conditions, shares of the Company's common stock at an installment conversion price of a discount to the then-current market price, if below the Original Conversion Price. In addition to the Notes, the Company will issue common stock purchase warrants equal to 150 percent of the number of shares of common stock the institutional investor would receive if the Notes were converted in...


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