MyEco Group Launches Series Two Convertible Note Offer for AU$2 Million

MT Newswires Live

Mar 27

MyEco Group (ASX:MCO)said it will undertake a series two convertible note offering with an aggregated principal amount not exceeding AU$2 million, according to a Friday Australian bourse filing.

The company said the convertible notes will feature a 15% discount to the volume-weighted average price (VWAP) over 14 trading days preceding the date of the conversion notice, subject to a minimum conversion price of AU$0.019 and a maximum of AU$0.05.

The notes will carry a three-year term with mandatory conversion at maturity, and noteholders will receive 10.5% interest per annum paid quarterly in arrears, the filing added.

The filing added that the offer is restricted to sophisticated investors and fund managers only.

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