If I’m reading this right - from the last Annual Report looks like the package was expanded to include a further 2,700,00 notes expiring 12/08/22
Annual Report extract.
FOR THE YEAR ENDED 31 DECEMBER 20216. FINANCIAL ASSETS AND LIABILITIES (continued) 6(e) Borrowings (continued)On 6 January 2021 the Company announced a funding package of up to $20 million principally for the Company’s TAVR research and development including general working capital expenses. This facility was provided by Mercer Street Global Opportunity Fund, LLC, a New York based investment fund (“Mercer”). In addition to issuing share capital and options (refer to notes 9 and 10), the Company issued the following financial liabilities:• On 20 January 2021, Anteris raised $1,500,000 through the issue of 1,620,000 convertible notes. Each convertible note has a floor price of $2.50 and expires on 19 May 2022.• On 12 April 2021, Anteris raised $1,000,000 through the issue of 1,080,000 convertible notes. Each convertible note has a floor price of $2.50 and expires on 12 August 2022.The funding package was subsequently expanded, with the Company raising a further $2,500,000 through the issue of 2,700,000 convertible notes on 12 April 2021. Each convertible note has a floor price of $4.00 and expires on 12 August 2022.All of the convertible notes have the following features:• Face value of $1.00 at a subscription price of $0.925926;• No interest is payable on unconverted drawn funds;• The conversion price is 90% of the volume weighted average price of the Shares for the five trading days on which the Shares traded in the ordinary course of business on the ASX ending on the date immediately prior to the relevant conversion notice, subject to the abovementioned floor prices; and• Each Convertible Note provides Mercer with the option to convert the note into shares. If Mercer does not convert the Convertible Notes by the maturity date (16 months from the issue date), Anteris is required to repay Mercer the face value of the notes.The Mercer funding package includes a put option facility allowing the Company, subject to a number of conditions, to request funding from Mercer of up to $16,500,000 in exchange for shares with a deemed issue price equal to 90% of the average 5-day VWAP at the time the Company makes the call. As part of the conditions underlying the put option facility, Mercer cannot be required to acquire an interest in fully paid ordinary shares in Anteris exceeding 4.99% unless Mercer gives its written consent and in that case it is not to exceed 9.99%. The put option expires on 6 January 2023. Derivatives are measured at fair value through profit or loss.
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anteris technologies global corp.
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If I’m reading this right - from the last Annual Report looks...
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$6.27 |
Change
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Mkt cap ! $97.17M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 3500 | $6.12 |
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Price($) | Vol. | No. |
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$6.27 | 200 | 1 |
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No. | Vol. | Price($) |
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1 | 2000 | 6.100 |
1 | 1000 | 6.000 |
1 | 1250 | 5.950 |
1 | 857 | 5.830 |
Price($) | Vol. | No. |
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6.270 | 200 | 1 |
6.300 | 463 | 1 |
6.400 | 130 | 1 |
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6.550 | 1092 | 1 |
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