Green Circle Decarbonize closes $8M private placement with Target Capital
What's the deal? Green Circle Decarbonize Technology LimitedDealroom has a profile for this one. Try Dealroom → has closed its private placement with Target Capital 1, LLC, confirming receipt of the full $8 million subscription price. The company disclosed the closing in a Form 6-K filed with the Securities and Exchange Commission on October 15, 2026.
The structure: The deal centres on an unsecured convertible promissory note with an aggregate principal of $10 million against the $8 million subscription price. Target Capital 1, LLC, the sole investor, also received common warrants to purchase up to 4,853,780 Class A ordinary shares.
How it was funded: Payment came in four tranches under a securities purchase agreement dated July 16, 2026. Green Circle received $2 million on July 24, $500,000 on September 1, $2 million on October 8, and $3.5 million on October 13.
Why now? The closing follows a resale registration statement. The company filed a Form F-1 on September 21, 2026, which the Commission declared effective on October 5, covering resale of shares issuable on conversion of the note and exercise of the warrants.
Green Circle also effected a six-to-one share consolidation on October 7, 2026. That move reduced the warrant coverage to 4,853,780 Class A ordinary shares, down from an originally stated 29,122,679.
The signal: Convertible notes paired with warrants remain a common route for smaller listed companies to raise capital without an upfront equity sale. For Green Circle, the staged funding and registered resale give its single backer a clear path to convert and sell, while the note's $10 million principal against an $8 million price points to a built-in discount.
Read more: kalkine.com
Image credit: Felton Davis
