The terms of the convertible note are negotiable and we will need to wait until details are released to comment.
Generally a convertible note is a loan facitility that allows a certain amount to be raised with a repayment date specified. At this time the borrower can choose to have the money repayed in full or can choose to take shares in the company instead (convert), at a predetermined % discount to the prevailing market price. During the period prior to the repayment date a fixed interest rate is payable to the lender.
I await the terms (and the lender) with great interest.
Illiquid
KRL Price at posting:
11.0¢ Sentiment: None Disclosure: Held
