Foote’s AHL inks $100 million deal with iCreate
Astronomical Holdings Limited, a privately held investment company run by attorney-at-law and investor Able-Don Foote, has inked a $100 million convertible debt deal with digital training institute iCreate.
The deal allows Astronomical Holdings through its subsidiary AHL (SPV) Ltd to convert the debt into equity, according to a press release.
Commenting on behalf of Astronomical Holdings Limited, Foote indicated that the decision by AHL to invest in iCreate was due primarily to its positive outlook on iCreate’s growth prospects amid the latter’s impending purchase of Visual Vibe Liimited, the largest digital outdoor advertising company in Jamaica.
“The idea is that these proceeds will go towards funding the impending visual vibe transaction,” Foote stated, adding that great things can happen when strategic partnerships are forged.
iCreate Limited in June signed a sales agreement to acquire 100 per cent of Visual Vibe.
