Are you sure it's for the full $10m? The comment regarding payment of the loan via share conversion is not provided against the original 2-year loan statement (unless I'm missing it), it is only mentioned against the 1-year loan.
Agreed they can convert it at any time, though from a dilution point of view which is the crux of the topic, assuming the SP doesn't nosedive appreciably in the 12 months to January 2021, then the dilution would remain around that already anticipated had the rights offer been taken up for the same $5m allocation.
At least that's how I'm reading it, but would be interested in counter opinion.
Are you sure it's for the full $10m? The comment regarding...
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