2023-03-08 08:39:54 ET
- Skillful Craftsman Education Technology ( NASDAQ: EDTK ) entered into a non-binding term sheet for a proposed private placement of its convertible note with a principal amount up to $10M.
- The note under the proposed financing is designed to be an unsecured general obligation maturing in five years post issuance, with annual interest of 7% payable on maturity date.
- The note is convertible in whole or in part, into the ordinary shares at holder's option; conversion price is initially $1.82/share.
For further details see:
Skillful Craftsman to raise $10M in convertible note private offering