Tivan Limited (ASX:TVN) Completes Redemption of Convertible Notes
Redemption of Convertible Notes
Tivan Limited (ASX:TVN) has completed the full redemption of all convertible notes issued to SBC Global Investment Fund (SBC). The company made a final cash payment of $267,650, fulfilling its obligations ahead of the maturity date of 25 December 2025.
Financial Arrangements
In March 2024, Tivan established a convertible note facility with SBC and L1 Capital Global Opportunities Master Fund. The facility included an initial tranche of $2.8 million in April 2024 and a second tranche of $0.551 million in July 2024. Tivan had previously redeemed Tranche 1 in April 2025.
Future Steps
With the loan from SBC fully discharged, Tivan will seek the removal of security arrangements held by SBC against its assets before the end of the financial year. Additionally, SBC is required to pay for the remaining 14,117,647 collateral shares within six months of the final redemption.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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