DPW Holdings to issue $50 million three-year promissory notes with interest of 5%-15%

By Rebecca Melvin

New York, May 13 – DPW Holdings Inc. said it plans to offer $50 million of three-year non-convertible promissory notes that will accrue interest of 5% to 15%, according to a news release.

The notes will be paid rata monthly and will be offered on a continuous basis.

The proceeds from the notes will be used for various purposes, including the funding of loans through its wholly owned subsidiary, Digital Power Lending, LLC, a lending platform, including loans to related parties. The proceeds may also be used to fund repayment of company debt, to repurchase DPW’s shares of common stock and for general corporate purposes.

The company has filed an offering statement with the Securities and Exchange Commission under Regulation A.

The notes will be made available only on DPL, a licensed California finance lender.

DPW is a Newport, Calif.-based power systems solutions manufacturer.

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