Funding & Propel Capital

What are the terms of the Propel Capital convertible?

For full terms and conditions, please contact emanuel.andersson@sting.co. Read more for an overall summary of the terms:

  • Propel Capital invests SEK 600,000, of which SEK 400,000 is provided up-front and SEK 200,000 is guaranteed as a follow-on investment upon conversion.
  • The loan falls due for payment after two years to the extent that conversion has not taken place before.
  • The loan has an annual interest rate of 10%.
  • Propel Capital has the right (but not the obligation) to convert when the company has raised at least SEK 1 million in external capital in a new issue. If conversion is made, the SEK 200,000 follow-on investment is included as part of the conversion.
  • Conversion price: 70% of the new issue price, but not higher than what corresponds to a valuation of all shares in the company of 20 million SEK before conversion.

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Who can receive funding from Turbine Capital?

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