What is going on with HMBL?
HUMBL, Inc (HMBL) stock jumped today after the company announced that it has closed in on $2,500,000 in new funding. The company secured financing by issuing warrants to purchase 3,000,000 shares of common stock to the investors, at an exercise price of $1 per share.
HMBL also raised funds through Archura Capital. In exchange for $1,000,000, HUMBL issued Archura a $1,020,000 convertible promissory note. The note bears interest at 8% per annum and is convertible at Archura’s election at $1.00 per share. The note is due in 22 months.
HUMBL's digital assets platform is being built to package blockchain tokenization into simple use cases for customers, such as payments, ticketing, NFTs and financial services. Shares of HMBL increased 7.8% to $0.98 as of Tuesday at 11:48am.
What does this mean for HUMBL, Inc.?
HUMBL plans to use the proceeds for general operating expenses, with a focus on additional technology team members in both its fiat currency and blockchain units of HUMBL Mobile Pay, HUMBL Ticketing and HUMBL NFTs. The financing will be also be used as a bridge to help HUMBL get to its $50,000,000 equity financing agreement. HUMBL now has $6,005,615 in cash on hand.
"I would like to personally thank these investors for their support of the company. They have been believers in HUMBL from the beginning and we look forward to representing them well and with continued drive to build a lasting global brand alongside them,” said Brian Foote, CEO of HUMBL.
Yesterday, the company announced the launch of its HUMBL Non-Fungible Token (NFT) Gallery, which will be available on its website HUMBLpay.com.
Humbl Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on HMBL!
HUMBL Inc is a platform being developed to seamlessly connect consumers and merchants in the digital economy, across its HUMBL Marketplace; HUMBL Pay; HUMBL Financial; and HUMBL Ticketing divisions. HUMBL Mobile Applications will deliver more seamless global transactions, by integrating multiple currencies, payment methods and financial services into reduced clicks for the customer. HUMBL Marketplace was developed to connect customers and merchants online, in improved commerce, deal discovery and blockchain tokenization programs. HUMBL Financial has developed new software and algorithms for the digital asset trading markets, which are new to the market for blockchain technologies, and will also offer other credit, lending, and financial services.
