GreenBox POS, an emerging fintech company that leverages proprietary blockchain security and token technology to create customized payment solutions, today announced the closing of its previously announced $100 million convertible note financing ($84 million following the deduction of an original issue discount).

The Company plans to use proceeds for acquisitions, to jumpstart the Coyni stablecoin custodial revolver and apply additional working capital toward the Company’s future growth, this is a significant milestone in executing the Company’s growth plans.

“This financing round not only fuels the next stage of progress for GreenBox and our planned stablecoin spin-off, Coyni, but also demonstrates our organization’s focus on executing against lofty goals,” said Ben Errez, GreenBox POS Chairman. The world of financial payments is ripe for disruption largely based on legacy architecture and painstaking processes for businesses to transact. Now with a fortified balance sheet, GreenBox is one crucial step closer to achieving our long-term vision of becoming the financial infrastructure for the new blockchain based future of banking and operating as a point-of-sale, PayFac, card issuance, and full banking platform around the world.”

The note will mature 24 months from the closing date. The initial conversion price equal to an over 80% premium to the market price of the Company’s common stock on October 29^th, 2021 sets enterprise value at over $700 million upon conversion.

EF Hutton, division of Benchmark Investments, LLC, acted as the exclusive placement agent for the offering.

The securities were offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-257798) that GreenBox previously filed with the U.S. Securities and Exchange Commission (“SEC”). The offering will be made only by means of a written prospectus supplement and the accompanying prospectus that form a part of the registration statement. An electronic prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC. Copies of the prospectus supplement and the accompanying base prospectus relating to these securities will be available on the SEC’s website at www.sec.gov and may also be obtained, when available, by contacting EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.