They've convinced an equity company to inject money in that, all things going well, they would have received anyway? The only condition unsatisfied that has stopped them having already received it is that the environmental approvals have taken longer than anticipated. Assuming they pay back the consideration > 12 months, the lender will get a 20% discount on shares received in QBL.
Not downramping, just trying to understand? I get that $1.5m in the hand is better than $1.5m subject to EPA approval. Is that the sole benefit here?
