Share price was around $1.60 while the $50m note facility granted.
Oaktree is sharp, they didn't grant the $50m note for free, they collected $1m facility fee, plus 15% interest p.a. Also, if BLA were performing very well, share price climbed above $1.87, then they have a right to convert the loan to shares; otherwise collect the $50m loan back at end of seven year period.
Ann: Blue Sky H1 FY19 Results Update, page-20
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