Financing includes upfront funding of $1.5 million to enhance liquidity
COLUMBIA, Md., June 26, 2023 /PRNewswire/ -- GSE Solutions ("GSE Systems, Inc." or "GSE") (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiatives for the nuclear power industry, today announced it has entered into a follow-on financing with The Lind Partners, which will be in the form of a convertible security with a term of 24 months. The offering is for a total of $8 million, with upfront proceeds of $1.5 million upon closing and up to an additional $6.5 million, funded in minimal increments of $1 million and subject to mutually agreed terms. Repayment of the new $1.5 million in proceeds will commence in one year and at that time will be repaid in 12 monthly installments.
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