HAS 3.45% 28.0¢ hastings technology metals ltd

This extract is what I don't understand!If 150M notes were...

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    This extract is what I don't understand!

    If 150M notes were issued, does that mean that each note is worth 1 share? Does this mean that Wyloo got 150M shares exercisable at $5.50? (which was about a 30% premium to SP at time of agreement of $4.24). Did management sell shares at $1 per share when SP was $4.24?

 
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