Niocorp Developments Ltd (NB): looks like the loan amount was @ 20% of...

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Niocorp Developments Ltd (NB)

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Re: PutzMueler post# 70147

Sunday, 03/07/2021 2:55:07 PM

Sunday, March 07, 2021 2:55:07 PM

looks like the loan amount was @ 20% of the loan face value which makes the share value US$.80 or so??

I don't think so. If they start converting shares, there is no set share value from my understanding of a convertible security.

"conversion price equal to 85% of the five-day volume weighted average price"

Thats what makes this financing so dangerous. Lind can drive down the price by converting shares. The lower the share price, the more shares they can convert.

The only saving grace is the 4 month lockup period.

I would welcome an educated discussion on this financing. The risks need to be understood.

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