Seeks to Raise Capital to Fund Customer Order Backlog of $43.9 Million Primarily Related to Long-Term and Often Sole-Sourced Defense Contracts
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–$DPL #12PercentInterest–Digital Power Lending, LLC (“DPL” or the “Company”) a diversified California Finance Lender (License No. 60 DBO-77905) announced that it is seeking to raise up to $8 million through an offering to be conducted pursuant to a Rule 506(c) of the Securities Act of 1933, as amended (the “Offering”) of promissory notes (“Notes”) having a term of thirty-six (36) months. The Offering is available exclusively at www.MonthlyInterest.com, the FinTech portal. The Notes will carry an interest rate of fourteen percent (14%) if the Note is executed by November 13, 2019. Otherwise, the investors’ Notes will accrue interest at twelve percent (12%) for the full 36-month term of the Note.
DPL is offering the Notes in order to support certain direct or indirect subsidiaries of DPW Holdings, Inc. (NYSE American: DPW), to fulfill their customer order backlog of $43.9 million, primarily related to long-term and often sole-sourced defense contracts. These subsidiaries consist of Microphase Corporation, Digital Power Corporation, Enertec Systems 2001, Ltd., Digital Power Limited (a/k/a Gresham Power, Ltd.) and Power-Plus Technical Distributors, LLC. All such entities are wholly owned by DPW Holdings except for Microphase, which is a majority owned subsidiary of DPW Holdings.
The Notes are offered in denominations of $10,000, with a minimum investment amount per investor of one Unit ($10,000), which may be waived by the Company in its sole discretion. All Notes will mature thirty-six (36) months from the date of issue. The Notes will accrue interest at a rate of twelve percent (12%) per year; however, all investors who subscribe for Notes by November 13, 2019, will accrue interest at the promotional rate of fourteen percent (14%) during the first year of the term of the Note. All investors must be “accredited investors” as defined under Rule 501 of Regulation D and meet all other suitability standards as set forth in the Confidential Private Placement Memorandum available at www.MonthlyInterest.com and contained in the Subscription Agreement. Investors will be required to verify their accredited status in compliance with Rule 506(c).
MonthlyInterest.com is an online FinTech portal that facilitates investments that pay monthly interest. MonthlyInterest.com enables individuals to invest based on simple portfolio criteria ranging from the industry sector to the length of the investment and the interest rate. Each investment pays interest monthly. Investments span a wide range of sectors including real estate, defense and homeland security, specialized high-tech manufacturing, commercial lending, blockchain technology, data centers and data center management, hospitality ventures as well as other pecuniary projects of the Company.
“We are very excited to have relaunched MonthlyInterest.com and to provide investors the opportunity to earn interest on a monthly basis. We look forward to providing non-dilutive capital to small businesses as well as to subsidiaries and partner companies of our parent, DPW Holdings. We believe MonthlyInterest.com is incredibly disruptive by providing investors the opportunity to invest directly into companies and technology that will have a global impact, bypassing traditional banking and lending institutions,” stated DPL’s CEO William “Billy” Corbett.
MonthlyInterest.com offers investments that pay monthly interest or monthly dividends. Each of the offerings on MonthlyInterest.com have different terms depending upon the industry segment in which the company operates, and the length of the loan as stated by the offering company. MonthlyInterest.com users have the ability to select the offering in which they want to invest. To find out more, please visit MonthlyInterest.com. For any questions, please use the ‘message’ feature on the website, email at [email protected] or call 888-488-4231.
About Digital Power Lending
Digital Power Lending, LLC (“DPL”) a California limited liability company, www.DigitalPowerLending.com, is a diversified California Finance Lender (License No. 60 DBO-77905) that provides funding to small businesses through secured and unsecured commercial loans and investments throughout the United States. We provide businesses with operating capital to finance their growth. The loans are primarily short-term, ranging from six to twelve months, but may be of longer duration. We use our financial experience, data analytics, and a credit scoring model to assess the creditworthiness of each small business borrower applicant (“Applicant”). If the business meets our criteria, we set the initial interest rate according to its credit and financial models. The final interest rate offered to the borrower will be determined by the Company’s review of the marketplace. In accordance with the Company’s business model, we generate revenue through origination fees charged to borrowers and interest generated from each loan. We may also generate income from appreciation of any shares of common stock underlying convertible notes or warrants issued to us in any particular financing.
We are a wholly-owned subsidiary of DPW Holdings, Inc. (NYSE American: DPW), or DPW, a diverse holding company with a growth strategy of acquiring undervalued assets, disruptive technologies and impactful ventures for incubation and development to reach their full potential for long-term growth and return on investment for investors.
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in DPW Holdings’ filings with the SEC including, but not limited to, its Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on DPW Holdings’ website at www.DPWHoldings.com.
[email protected] or 1-888-753-2235