Pantoro (ASX:PNR) said it plans to repay the outstanding convertible loan facility, which amounts to about $6.3 million, to Nebari Partners on May 12, according to a Thursday filing with the Australian bourse.
The company will issue 4.9 million options to Nebari under the facility, with an exercise price of $1.08 and an expiry date of June 30, 2027, the filing said.
The proactive repayment reduces potential shareholder dilution by 15%, with the company avoiding roughly AU$1.5 million in interest payments over the loan's remaining term, per the filing.
Pantoro shares fell past 3% in midday trade Thursday.
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