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PEDEVCO places convertible debt to fund Permian activities
PEDEVCO Corp. placed $15 million of 8.5% convertible three-year promissory notes on Jan. 11 with SK Energy LLC, which is owned by its CEO, Simon Kukes. The notes are convertible into up to 10 million common shares at the holder’s option at $1.50 a share, but are subject to a 49.9% conversion limitation for as long as SK Energy or an affiliate would beneficially own more than 49.9% of the company’s common shares via the conversion. The company said......
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