There is some interesting financing news this morning, even if the financing is not one of massive proportions in private equity, venture capital, or in sovereign-type investments.
An OTC-BB listed stock called ZAP! (OTCBB: ZAAP), a US-based electric car pure play, saw the completion of a financing pact this morning from Dubai-based The Al Yousuf Group. The total financing was a convertible debt placement in the amount of $475,000.00, but this is after the Al Yousuf Group purchased $5 million in ZAP! shares back in November.
The Al Yousuf Group is a manufacturing and distribution company in the U.A.E.
Read the full story at 247WallSt.com.
U.A.E. group invests more in electric cars
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