coupon) convertible into common equity upon a liquidity event (IPO, trade sale, partial divestment). 3. Our instrument will presumably rank behind the Informa $16 mn loan note from 2010 (payable in 2020 with a 10% roll up coupon) and only be payable after that loan note principal and accrued interest are paid out

coupon) convertible into common equity upon a liquidity event (IPO, trade sale, partial divestment). 3. Our instrument will presumably rank behind the Informa $16 mn loan note from 2010 (payable in 2020 with a 10% roll up coupon) and only be payable after that loan note principal and accrued interest arc paid ou