SDM Education (08363) issued announcements on December 24, 2018 and February 12, 2019,...
Zhitong Finance App News, SDM Education (08363) announced that on December 24, 2018 and February 12, 2019, the company and SDM Asia Limited (issuer), a wholly-owned subsidiary of the company, and Barium Real Limited (note holder) signed separate subscription agreements and revised deeds. According to the subscription agreement and the amended contract, the issuer conditionally agreed to issue, and the note holder conditionally agreed to subscribe for a convertible stock note with a principal amount of 25 million US dollars. The convertible notes will accrue interest at an annual interest rate of 8% and will be paid when the note holder redeems them on the maturity date of March 31, 2023. The convertible notes will be converted into the issuer's new preferred shares after certain events as detailed in the subscription agreement and amending agreement.
As of the date of this announcement, the terms and conditions of the potential plan for convertible notes have not been implemented.