You forgot the 5% repayment fee...
So supposedly the principle is they get "returns equivalent to shareholders" on this facility, yet if the share price goes down, they get £150k on signing, 12%pa and 5% on repayment.
But if the share price rises more than 12%pa before repayment, they get the % the share price rises by instead of the interest rate (and still get the £150k up front and the 5% of repayments)
Ummm yeah. I guess it's still an improvement on the 84% effective loan rate with Gemini...
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You forgot the 5% repayment fee...So supposedly the principle is...
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