Rubico announces up to $15 million senior convertible debt offering
Bitget2026/10/16 22:51- Rubico plans up to $15 million in senior convertible notes, including a conditional $5.56 million second tranche.
- The initial $9.44 million tranche is expected to close October 19, 2026, generating $8.5 million in gross proceeds.
- A 10% original issue discount applies; the second tranche would raise $5 million, bringing total potential gross proceeds to $13.5 million.
- Unsecured notes pay 8% interest in cash or 10% in common shares; 12-month maturity is extendible to 18 months with 5% principal uplift.
- Initial notes have a $0.3646 fixed conversion price; accompanying five-year warrants cover 25,903,577 common shares at $0.3646 each.
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