Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"at a price of 85% of the ten average."

Not exactly.
FWIW and it COULD be worth a lot:
It's "85% of the lowest VWAP of the Common Stock on a Trading Day during the ten (10) Trading Days prior to and ending on, and including, the Conversion Date"

"85% of the lowest VWAP of the Common Stock on a Trading Day during the ten (10) Trading Days prior to and ending on, and including, the Conversion Date" will always be lower than "85% of the ten average" unless the price doesn't change throughout the period in which case they would be equal.