Blackboxstocks Closes $1 Million in Debt Financing from Feenix Venture Partners
Capital will be Deployed into Development of New Features for Proprietary Trading Platform
DALLAS–(BUSINESS WIRE)–Blackboxstocks Inc. (OTC PINK: BLBX) (“Blackbox”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced that it has closed $1.0 million senior secured loan from Feenix Venture Partners.
“This financing provides Blackbox with the resources needed to begin development of important new features for our platform, as well as augment our current marketing efforts,” commented Gust Kepler, CEO of Blackbox.
Keith Lee, CEO of Feenix Venture Partners, added, “Blackboxstocks has done an amazing job growing their platform with best-in-class trading analytics for their subscribers. We are excited about partnering with them to further enhance their product offering and build on their momentum.”
Principal payments of $10,000 per month begin in December 2021 with a maturity of November 2022. This term may be extended for an additional year. The loan bears interest at 12% per annum. In connection with the financing, Blackbox retired $100,000 of existing senior debt and paid approximately $134,000 in trade payables.
About Feenix Venture Partners
Feenix Venture Partners (“Feenix”) is a private investment firm established in 2017 and headquartered in New York City. Feenix provides growth capital through debt, hybrid and equity to small and medium sized businesses, primarily in the consumer sector. Feenix is an active investor in food & beverage, hospitality, direct-to-consumer ecommerce and SaaS businesses. For more information about the firm, please visit: www.feenixpartners.com.
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs “predictive technology” enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 8,000 stocks and up to 900,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans 42 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: www.blackboxstocks.com
Safe Harbor Statement
Our prospects here at Blackbox stocks are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as “if,” “may,” “might,” “will, “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed in our other filings with the Securities Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Stephanie Prince, Managing Director