The notes may be converted at any time by the holder at $15.00 per share.
The company can also redeem the notes after three years.
The notes will bear interest at a rate of 10.0 percent per annum, and compound annually, payable in kind or in cash with the option to pay in arrears, commencing on April 1, 2024.
The notes have a stated maturity of March 30, 2029.
Doug Trussler, partner and co-founder of Bison Capital, will join the company’s board of directors as part of the investment.
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