PhosCo Ltd (AU:PHO) has released an update.
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PhosCo Ltd has issued 900,000 converting notes to sophisticated investors, including company directors, for $900,000. These notes, which come with a 10% interest rate and a conversion price range of $0.01 to $0.05, will be converted into shares by March 2025 unless redeemed earlier. This move allows PhosCo’s shares to be sold to retail investors without additional disclosure, potentially impacting the company’s stock liquidity and investor interest.
For further insights into AU:PHO stock, check out TipRanks’ Stock Analysis page.