What are the terms of the Propel Capital convertible?

For full terms and conditions, please contact emanuel.andersson@sting.co. Here is an overall summary of the terms:

• The loan of SEK 500,000 falls due for payment after two years to the extent that conversion has not taken place before. 
• The loan has an annual interest rate of 10%.
• Propel Capital has the right (but not the obligation) to convert when the company has made a new issue/s to investors for a total amount of at least SEK 1 million in external capital.
• Conversion price: 70% of the new issue price, but not higher than what corresponds to a valuation of all shares in the company of 20 million before conversion.