Ann: Magnis Secures A$20 Million in Funding from US Institutions, page-99

nice explanation.

a lot of people are worried that if the SP falls dramatically, they can potentially claim up to 100m shares. well there is also a provision for mns to pay them out in cash +5% which, they will not have an issue paying as we've determined they can borrow that from im3ny if they have to.

It's a brilliant deal. the equivalent conventional CR would be 80m shares for $20m. This is 14m and both structures would have fees for evolution capital. The board has saved a dilution of 66m shares.

they have got 14m shares now at 24c = $3.36m and they have another $16.66m (20-3.36) worth of shares available. if the SP goes to 50c, they can ask for 33.32m shares if they want it all back. If it goes to 70c, 23.8m shares etc.

Correct me if i'm wrong.