NEW YORK – March 3, 2020 – Buchanan Ingersoll & Rooney recently represented India-based Lava International Ltd in the company’s agreement with GEM Global Yield Fund LLC SCS, part of the Global Emerging Markets Group, for the investment of up to $90 million into Lava International over the next 36 months through a Share Subscription Facility. The facility will allow Lava International to sell American depositary receipts to GEM in exchange for drawing down available funds and can be used entirely at the company's discretion subject to certain requirements. Lava International will use the funds to strengthen its business by funding its research, development and business expansion activities, with the objective of becoming a market leader in the sub-$150 cellular phone segment. Shareholder Rajiv Khanna along with associates Daniel R. Richey and Sarah J. Tobias, represented Lava International in this transaction.
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