"It looks a pretty good deal with initial funding at 3c but worth noting, the bulk of the funding is via the note which includes a 67c redemption premium.
Instead of 300m shares for $9m FS get 500m for $9m or 1.8c per share assuming conversion."
Ann: TPS Secures $10.5 Funding Package for Acquisition Strategy-TPS.AX, page-14
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