These note merchants are nearly always bad news for the share price. Magna make 15% on the issue price and get at least another 15% vwap discount selecting lowest day in window. Agreed, if conversions are made at higher prices dilution will be relatively less but predatory lenders don't generally convert when prices are high. At least they'll be finished with instalments in a couple of months unless funding is terminated earlier.
I couldn't find anything in the initial funding release about selling or conversion restrictions, maybe new information released?
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