Bit Planet Decides to Issue Convertible Bonds - Terms Undisclosed | BITPLANET(049470)

▶ Bit Planet has decided to issue convertible bonds (CB), but key terms such as issue size, conversion price, and interest rate are not disclosed.
▶ Bondholders are granted a put option: exercisable every 3 months starting 18 months after issuance, at a rate of 2% compounded annually.
▶ The issuer is granted a call option: exercisable monthly from 1 year to 1 year 11 months after issuance, at a rate of 2.5% compounded annually. Exercise limited to 30% of each bondholder's holdings.
▶ Underwriters must hold 30% of the acquired bonds unconverted until the call option expiration.
▶ Conversion price is based on pre-stock split values; dilution ratio calculated on pre-split total shares of 117,724,498.
▶ The investor is a newly established fund with no specific financial data.

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