the convertible notes are essentially a running placement, and therefore if you were going to shout "DILUTION" to a placement you should be shouting it to these also.
However - there is nothing at all wrong with PRR entering into this financing arrangement. No doubt it is the best available after well & truly shaking the trees. Just don't pretend it's something that it isn't.
the convertible notes are essentially a running placement, and...
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