Althea Group (ASX:AGH) has secured $2.2M from a US-based institutional investor via convertible notes.
Althea Group says the funding will be used to launch new products, grow existing product range, and provide general working capital, as it works to increase revenue and return value to shareholders.
The company says it anticipates achieving cash flow breakeven and operating profitability during March 2023.
Althea Group also says 4,800,000 options have been issued with an exercise price of 200% of the 5 actual trading days immediately prior to mutual execution of the relevant agreement.