They need to pay down some of the trade debt. $58m in short term liabilities is more of a risk to the company than the debt funding component due next year.
I expected $20m upfront as I thought MIN would screw PNR hard considering the fragile financial state of the company, so this is a good outcome imo even if it robs them of some blue sky potential in future. Anything that removes further dilution is a good thing as there is already 5.2b soi
PNR Price at posting:
4.5¢ Sentiment: None Disclosure: Held
