you are viewing a single comment's thread.
Is this good for the Lenders or the Company? Well, that's the problem. It's the same people. The $60 million loan previously didn't have a due date. It was tied to the company reaching a certain working capital amount. Could be a year, could be 10 years or never..interest free.....Now it's due in 3 years.If the stock is way up and they convert, great. But if it isn't, the $60 million is due. Such a deal.
the loan was repayable as long as the company would be left with 100m in cage capital previously, so the 3 yr is an improvement over the prior arrangement