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![YellowLabLife Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1218604193025490949.png) Yellow Lab Life Capital [@YellowLabLife](/creator/twitter/YellowLabLife) on x 25K followers
Created: 2024-03-21 21:17:54 UTC

Lifezone $LZM doing $50MM of X yr min X% convertible paper (currently X% based on SOFR) that can be force converted at $12/sh

Good deal for Harry Lundin / Broma

Effectively at the market equity offering but with seniority and cash yield

The koala has mixed feelings on Kabanga

Surprised Lifezone didn't do straight equity if it needed cash, the koala would have recommended doing common equity at $6-6.50/share even over doing this deal where it creates cash burn through interest

Just too far away from revenue or FID to be doing financial engineering like this

This likely overhangs on the equity until the next catalyst

That catalyst is PFS then BHP decision on excersing option to go to XX% of project economics and effective control

![](https://pbs.twimg.com/media/GJOTGzYXYAACK4U.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1770922808714887248/c:line.svg)

**Related Topics**
[lzm](/topic/lzm)
[$12sh](/topic/$12sh)
[$50mm](/topic/$50mm)
[$lzm](/topic/$lzm)
[coins arbitrum](/topic/coins-arbitrum)

[Post Link](https://x.com/YellowLabLife/status/1770922808714887248)