Ann: Presentation - Strategic Partnership and Long Term Funding, page-69

May be a convertible note but rarely do you see a convertible note where conversion (at $1.80) is double what the SP was ($0.90) before the announcement. I will leave it at that.

Normally a convertible note is converted to shares at a 5 to 10 day VWAP average prior to the date of conversion, and usually it can be gamed to reduce the SP at conversion. So looks like LGES wants to secure supply, and not be China dependent, and that is only a good thing long term.

Short term the market will need to decide its decision on this deal, long term as lithium prices rebound it will be deemed a good deal and a bargain placement for LGES (very similar to how CATRL got 8% of PLS a while back - back in 2020 or 2021 I think - when markets were worried about lithium prices back then and then we know for PLS prices rebounded and the rest is history).

5.3% rate seems competitive as well.

All IMO