Whatever happened to "convertible notes"? If we need $5m, a "note" denominated in units of $10 would be offered with a coupon rate of 7% p.a. and conversion to equity at rate of 200 shares per unit. Conversion or redemption in 6 months.
All numbers are "for instances".
These used to be alot of fun whilst avoiding irritating CR's and unnecessary dilution.
Alternatively, find a friendly bank manager.
Ann: Clinical Trial Update, page-5
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