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Nature of Investments

In general, the nature of investments will be as follows:

  • Convertible redeemable preference shares or convertible notes.
  • Preference for ultimate minority holdings of between 10% to 40% or a structure that involves dilution through successive funding rounds.
  • Initial Investments of approximately $1.5 - $2 million invested in tranches, determined by milestones. Around $1.5-$2m will be reserved for follow-on funding.
  • The funds will be used for either production engineering and/or initial marketing and should match an already spent R&D expenditure of $1.5 million.
  • All investments will have shareholder agreements.