Australian Investors Podcast · Inside Soul Patts’ EOS turnaround and NexGen uranium bet
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used a convertible note structure with EOS that looked like debt but could convert into a small amount of equity, limiting dilution for existing shareholders
“Glasic you know i think they bought their stake for half of turning point essentially that it was originally i believe all debt which was converted into equity for 11 million dollars back in 2010”
“We've got a mix of debt and equity because they serve different purposes… debt preserves shareholding, equity gives quick capital”
“I would say it's around a dollar's invested today. We've got 250 million across shares and convertible notes.”
“Reviewing any of your provisions that restrict how, say, your permanent roles are structured...won't actually shield you as the employer, if the NES right to convert is triggered.”
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