Motive Television (LON:MTV) has tweaked its convertible security funding deal with Bergen Global Opportunity Fund.
The outstanding nominal amount of the first convertible security has been raised from £1,233,000 to £1,329,000 in return for Bergen foregoing certain rights under the securities issuance deed.
All the other terms of the deed remain as previously announced.
Tablet TV specialist Motive Television secured the £2.98mln investment from New York fund Bergen to finance its rapidly growing business.
It involves the firm issuing to Bergen up to £2.98mln worth of zero coupon convertible securities in four tranches.
The convertible securities expire on May 12, 2017.
Motive's executive chairman Michael Pilsworth said at the time the financing was announced: "The funding from Bergen allows Motive to develop its Tablet TV service in the USA, UK, and globally and take advantage of the growing worldwide market for its entire Content Express platform."
"It also will enable the company to acquire the remainder of its Spanish subsidiary and provide stability and reduced risk to the company going forward," he added.