Of course the deal was a no-brainer when it was created, and remains a a no-brainer until Sept 2025. Your not concerned about when and how the notes are unwound in 25 months? If we'll have the required free cash over the next 25 months to cover the obligation? If we don't have enough cash to cover the obligation then the dilution effect of issuing shares to cover the obligation?
The other thing that has not been discussed is the fact the notes are on the balance sheet as "long term" debit. At what point does that turn into "current debit"? That could mess up our working capital and effect our ability to borrow money at market interest rates?