Originally reported as equity funding, the $300m raised by Deutsche Telekom-backed wearable product maker Jawbone last month has been revealed to be debt financing.
The $300m raised by US-based wearable technology maker Jawbone from asset manager BlackRock last month was actually provided in the form of debt financing, Bloomberg reported on Monday.
Originally reported as an equity investment, BlackRock’s investment was actually made in the form of a loan secured by Jawbone’s existing and future licenses, intellectual property, royalties and accounts receivable, as well as revenue from intellectual property and licenses, according to a regulatory filing and sources close to the deal.
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