Not a bad deal for the "investors" hey!?
They get an equivalent of ~$4.2M interest (today's SP) returned on a $20M loan over 18 months. That's equivalent to a 25% interest rate on a monthly compounding / monthly payback basis. Highway robbery.
The company gets access to more capital, but don't forget the have to pay back the loan in full in 18 months. Throw it on the pile with the other loan I guess.
Ann: Magnis Secures A$20 Million in Funding from US Institutions, page-26
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Last
4.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $50.37M | |||
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| MNS (ASX) Chart |
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