CybAero signs Letter of Intent with Bracknor regarding a financing solution
CybAero has today signed a Letter of Intent with Bracknor regarding a financing solution of up to USD 5.25 million in the form of seven convertible loans, the first three loans each of USD 850 000, the fourth of USD 750 000 and the last three each of USD 650 000. The convertible loans will have a mandatory conversion at the latest 12 months from issuance. The conversion rate will for the first three loans be 88% of the lowest closing value-weighted average price during a 15 trading day period. For the last four loans the conversion rate will be 90%. Each convertible loan will be