urban-gro raises $2.8 million through convertible note placement

urban-gro Inc. (NASDAQ: UGRO) completed a private placement of up to $2.775 million through a secured convertible promissory note, generating approximately $2.525 million in gross proceeds, according to a company statement.

Thunder Rock Capital LLC served as exclusive placement agent for the transaction. The company filed additional details with the U.S. Securities and Exchange Commission in a Form 8-K.

urban-gro, which operates as Flash Sports & Media Inc., plans to use the proceeds to expand across sports, media, and experiential platforms. The company indicated it will pursue opportunities related to the Lanka Premier League and potential acquisitions, league operations, and licensing deals. Funds will also support working capital and strategic partnerships.

The financing aims to position the company for participation in cricket's global growth while expanding engagement across international and U.S. audiences, the company stated.

"This transaction reflects the growing convergence of capital markets and global sports media," said Varun Ajjarapu, Co-Founder of Thunder Rock Capital. "We have structured a solution that provides immediate liquidity while positioning urban-gro to pursue high-growth opportunities in international cricket and media rights."

urban-gro describes itself as a diversified sports, media, and experiential marketing platform focused on live events, original content, and branded fan experiences. The company integrates content creation, event execution, and media distribution within the sports and entertainment sector.

Thunder Rock Capital continues to serve as a strategic advisor to urban-gro following the transaction completion.

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