The convertible notes were issued after the period ending 30 June, and were subject to completion of the IPO since they convert into shares, so I gather that *partially* addresses some of their requirements...although probably not specifically refinancing the existing debt facility itself.
Nonetheless, even with debt dropping from 35m to 19m after printing shares, that's still a huge level. I think your original point about another raise within a year will be a certainty though. Surprised that none (or little) of the $50m is allocated to even partially reduce this...