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GigaMedia to Buy $2.6mln Note from Aeolus Robotics for Strategic Partnership
ByAinvest
Friday, Mar 7, 2025 9:08 am ET1min read
• GigaMedia acquires $2.6mln convertible promissory note from Aeolus Robotics. • Note bears 4.5% interest and matures in 36 months. • May be converted into Aeolus shares at $0.02 per share. • Exhibits mutual strategic commitment between GigaMedia and Aeolus. • GigaMedia may enter into additional transactions with Aeolus.
In a recent development, GigaMedia Limited (NASDAQ: GIGM), a leading provider of digital entertainment services in Taiwan and Hong Kong, announced the acquisition of a $2.6 million convertible promissory note from Aeolus Robotics Corporation [1]. This strategic investment underscores GigaMedia's commitment to the robotics industry and its belief in Aeolus's potential growth.The convertible note bears an interest rate of 4.5% and matures in 36 months. Upon maturity, the note may be converted into Aeolus shares at a price of $0.02 per share. This agreement represents a mutually beneficial strategic commitment between GigaMedia and Aeolus, with potential for further transactions in the future [1].
GigaMedia's decision to invest in Aeolus is not without precedent. In August 2020, the company purchased a convertible promissory note from Aeolus for $7 million, demonstrating its confidence in the robotics company's prospects [1]. The recent amendment to extend the due date of the note and provide more favorable terms underscores this commitment.
Aeolus Robotics, based in Taipei, is an innovative player in the robotics industry, specializing in the development and operation of robots. With GigaMedia's support, Aeolus may continue to grow and expand its capabilities in this rapidly evolving field [1].
GigaMedia's investment in Aeolus aligns with its broader strategy of investing in digital entertainments and platform services, with a focus on mobile games and casual games [1]. By diversifying its portfolio to include robotics, GigaMedia positions itself for long-term growth and success in the digital entertainment industry.
References:
[1] GigaMedia Limited. (2023, September 8). GigaMedia Announces Amendment to Aeolus Robotics Convertible Promissory Note. Retrieved from https://www.gigamedia.com/EN/InvestorNews/ugC_InvestorNews_Detail.asp?hidNewsCatID=21&hidNewsID=204
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