GigaMedia purchases convertible note of Aeolus Robotics

GigaMedia (GIGM) announced that the company has entered into and executed an agreement to purchase a $1.5M principal amount of convertible promissory note issued by Aeolus Robotics, a global company primarily engaged in designing, manufacturing, processing and sales of intellectual robotics. The Note, bearing interest at a rate of 4.5% per annum, shall be due in 36 months, and all or a portion of the principal amount under the Note may be convertible at GigaMedia’s option upon maturity, upon prepayment, or when certain events occur, into ordinary shares of Aeolus at a price of 2c per share.