What are the terms of the Propel Capital convertible?
For full terms and conditions, please contact email@example.com. Read more for an overall summary of the terms:
For full terms and conditions, please contact firstname.lastname@example.org. Here is an overall summary of the terms:
- The loan of SEK 500,000 falls due for payment after three years to the extent that conversion has not taken place before.
- The loan has an annual interest rate of 6%.
- Propel Capital has the right (but not the obligation) to convert when the company has made a new issue/s to investors for a total amount of at least SEK 1 million in external capital.
- Conversion price: 70% of the new issue price, but not higher than what corresponds to a valuation of all shares in the company of 20 million before conversion.