MEDIVAC ENTERS INTO A CONVERTIBLE SECURITY AGREEMENT WITH...

MEDIVAC ENTERS INTO A CONVERTIBLE SECURITY AGREEMENT WITH US
INSTITUTIONAL INVESTOR
Healthcare solutions company MediVac Limited [ASX: MDV] advises the market that it has entered into a
non-interest bearing Convertible Security Agreement (CSA) for a one-off secured loan of $250,000 with an
USA based institutional investor unrelated to MediVac. The loan has the potential to be converted into equity,.
Funding of the full amount of $250,000 under the CSA is scheduled to occur during this week.
The CSA has a term of 8 months, and, subject to compliance with Chapter 7 of the ASX Listing Rules in
relation to obtaining shareholder approval, the loan may be converted into ordinary shares at the request of the
investor at any time during the term, in accordance with the terms of the CSA.
The loan may be converted to shares at the conversion price, which is equal to 130% of the average of the
daily volume weighted average prices of MediVac?s shares for the five trading days immediately preceding
the date of execution of the CSA.
Alternatively, the investor may choose to elect to convert at the conversion price equal to 85% of the average
of three daily volume-weighted average prices of MediVac?s shares during a specified period ending on the
date immediately prior to the date of the conversion.
The loan attracts a one-off fee of $20,000 to be satisfied by way of issue of shares, and the investor will be
granted 45,000,000 options to acquire ordinary shares in MediVac with a term of 48 months and exercisable at
130% of the average closing prices of MediVac?s shares over the 5 consecutive trading days immediately
prior to the execution date.
MediVac Executive Chairman, Mr. Paul McPherson, said, ?Following our recent accredited investor road
show in the United States we have received strong interest in the company, its products and future prospects.
This convertible loan investment is an example of this interest and preparedness to invest in MediVac, and a
recognition of MediVac?s potential by a sophisticated institutional investor.?