I am still perplexed that the raise is US$40m and the funding requirement is only US$30m.
Can someone shed some light on this?
The announcement also alluded to an equity component in the overall funding package, but I see no reason for that - unless the loan notes are conditional on a cap raise for additional equity.
Thoughts anyone???
Ann: Launch of Proposed Senior Secured US$40m Loan Note Issue, page-228
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