Defenx Plc (AIM:DFX) announced a private placement of 2,000,000 unlisted secured convertible bonds at £1 per bond for gross proceeds of up to £2,000,000 on August 7, 2017. The transaction will include participation from eligible investors. The bonds carry coupon rate between 8% and 10% payable quarterly. The bonds are convertible into common shares of the company at a fixed conversion price of £2 per share. The bonds carry maturity date of August 31, 2020. At the company’s option, the bonds may be repaid fully or partially at any time on or after August 31, 2019. The company will issue bonds of £1,250,000 through auction process to be conducted through UK Bond Network. The auction opens on August 14, 2017 and closes on August 30, 2017. The bonds are guaranteed in nature. The company will issue bonds on August 31, 2017. The transaction is subject to shareholders’ approval at its General Meeting to be held on August 23, 2017.