Niocorp Developments Ltd (NB)

[LCP77]

Niocorp paid $1mm plus in fees and prepaid interest for the $8mm loan that netted $6.95ish. Plus they gave up 600k $3.25 warrants. If they default you can add 18% to the debt cost.

“The Notes are the unsecured obligations of NioCorp and will mature on December 31, 2024. The Notes will incur a simple interest rate obligation of 0.0% per annum (which will increase to 18.0% per annum upon the occurrence of an event of default). The outstanding principal amount of, accrued and unpaid interest, if any, on, and the Payment Premium, if any, on the Notes must be paid by NioCorp in cash when the same becomes due and payable under the terms of the Notes at their stated maturity, upon their redemption or otherwise.”