Deal: Unsecured Convertible Notes 10% p.a. (1Y) or 10% p.a. + 10% bonus for full 2Y term (30% for 2Y)
DescriptionHighly competitive Oil and Gas Industry Productivity Software Company offers 100 unsecured Convertible Notes, AUD25,000 each to raise up to AUD2.5 M. Key Terms: Principal = Australian $25,000 Security = Unsecured Interest Rate = 10% p.a. Interest Payment Terms = Simple interest calculation payable quarterly in arrears. Brokerage Fee = 4% on principalTerm = 12 months with option to rollover for further 12 months. Bonus Interest = The note holder upon redemption at 24 months (other than conversion to equity) of the note is entitled to a bonus 10% interest on the principal (5% p.a. equivalent). Option to convert = In the event a liquidity event (IPO, RTO, trade sale), the note holder has option to convert the notes to ordinary shares at a 10% discount on the share price determined as part of the liquidity event. ? Deadline for Offer Acceptance = The sooner of 100 convertible notes being issued or 13 months from the date of this offer.
AssetsNew technology, Oil & Energy