Not entirely right mate.
Tranche 1 convertible notes initial conversion price is set to 125% reference price.
Each 6 months it is either maintained at the original conversion price or adjusted to 90% of the share price - whichever is lower.
Let's say the reference SP is 4c. The initial conversion price is 5c. There is no requirement for immediate conversion.
If the SP drops to 3c 6-months after the issuance, the conversion price is 2.7c.
If the SP rises to 8c 6-months after the issuance, the conversion price is maintained at 5c.
Tranche 2 has 526,315,789 shares at 4.94c.
The Noteholder can't go above 9.9% ownership, however, this can be managed and is not restricted by the selling or shares.
Basically, IMU management have rewarded long term shareholders by putting a 4-5c anchor in the form of a private equity fund owning a minimum of 950M IMU shares. A 5 year anchor on the shareprice at 4-5c.
This isn’t bad, it is horrendous!
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
1.3¢ |
Change
0.002(18.2%) |
Mkt cap ! $97.07M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.4¢ | 1.1¢ | $625.7K | 50.56M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 5795292 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 3258567 | 9 |
View Market Depth
| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| IMU (ASX) Chart |