Disappointed to see the possible content of the pending...

Disappointed to see the possible content of the pending announcement as the subject of media speculation before release to the ASX. This sort of thing is unhelpful and can be inaccurate. For example the media reference to Pfizer suggests a direct link between PRR and Pfizer: whereas I suspect, like Planet, that it is most likely a misinterpretation of the involvement of the formar Pfizer director.

If the ink is dry on the contracts, I'd like to see PRR inform the market asap.

Not an expert but I regard "market capitalisation" as the total value of the shares on issue at a point in time. Therefore I don't think a funding facility would affect market cap unless it is repaid with an equity issue.

If the speculation in the media is accurate, it will be intersted to see the terms of the convertible notes.

"A convertible note ... is a type of investment you can make in a company or unit trust. A convertible note earns interest on the amount you pay to acquire the note until the note's expiry date. On expiry of the note, you can either ask for the return of the money paid or convert that amount to acquire new shares or units."
Link:http://www.ato.gov.au/individuals/content.asp?doc=/content/36723.htm

If the conversion is at or about the value of the equities at the expiry date, that may be less dilutive, if Cvac is progressing favourably at that point in time.