Bantec, Inc. announced that it expects to receive $0.4 million in funding from Trillium Partners, LP, J. P. Carey Ltd Partners, Lp
July 30, 2022
Share
Bantec, Inc. entered into securities purchase agreements with Trillium Partners, LP, and J. P. Carey Ltd Partners, Lp for gross proceeds of $400,000 on July 1, 2022. The company will issue 24,000 Series B preferred stock, and a warrant for the purchase of 1,120,000,000 shares each to both the investors. The warrants are exercisable at $0.0002 for a term of 7 years, permit the holder thereof to elect a cashless exercise, are subject to adjustment according to certain anti-dilution provisions, and carry no voting rights.
Bantec, Inc. is a product and service company targeting the United States government, state governments, municipalities, hospitals, universities, manufacturers and other building owners. The Company provides product procurement, distribution, and logistics services through its wholly owned subsidiary, Howco Distributing Co. (Howco) to the United States department of defense and defense logistics agency. The Company, through Bantec Sanitizing, offers sanitizing products and equipment through its new store bantec.store. The Company sells drones and related products manufactured by third parties to various parties, primarily local government entities. Its drone programs constitute selling its customers drones, drone accessories, accident reconstruction software, drone training, drone services, counter-drone technology, certificates of authorization (COAs) and Waivers. The Company has operations based in Sparta, New Jersey and Vancouver, Washington.
BANTEC, INC. 
