DigiPlus Interactive Corp. has completed the second tranche of its subscription to convertible notes issued by International Entertainment Corp. (IEC), finalizing the transaction after all conditions under the agreement were satisfied, BusinessWorld reported.
In a stock exchange filing on Thursday, DigiPlus said IEC confirmed that all conditions precedent for the second tranche had been met, allowing the subscription to proceed. The deal involves convertible notes that can be converted into shares of IEC, though specific financial terms were not disclosed in the filing.
The completion of the second tranche marks the finalization of the investment, which was initially announced earlier this year. DigiPlus, a Philippine digital entertainment company, continues to expand its portfolio through strategic investments in the gaming and leisure sector.