Fort Technology Signs Convertible Note Agreements for Up to $20 Million

Fort Technology Inc. (Nasdaq: FRTT) entered into two securities purchase agreements for unsecured convertible promissory notes and warrants, allowing up to $20 million in aggregate note principal.

Fort entered into the agreements Nov. 11 and announced them Nov. 12. The $20 million limit applies across both agreements and is a maximum principal amount, not a statement that the full amount has been funded.

An initial tranche is $2.2 million. Any later tranches are subject to the agreements.