Aemetis launches $50 million EB-5 Phase II round following $36 million Phase I
In California, Aemetis, Inc. announced that the $36 million EB-5 Phase I funding has been followed by the launch of a $50 million EB-5 Phase II funding to repay the existing 14% interest rate bridge loan with 3% interest rate, long term EB-5 funding.
Under the EB-5 Phase I funding, Aemetis offered subordinated notes in the amount of $500,000 per note to refinance the high interest rate bridge loan for the existing Keyes ethanol plant, and raised $36 million from 72 foreign investors. To date, $25 million of this amount has been released from the escrow account to the company and used to reduce a higher cost bridge loan held by our senior lender.
With an EB-5 project track record established, Aemetis recently commenced a $50 million Phase II funding with two Asian marketing tours by Aemetis Chairman and CEO Eric McAfee in July and August. McAfee officially launched the EB-5 Phase II funding in September 2016 with a tour of six countries including China, Vietnam, Taiwan, Singapore, Dubai and Abu Dhabi.
Category: Fuels
