Myanmar Strategic Holdings Limited announced that it will issue convertible notes for gross proceeds of $10,000,000 on November 4, 2021. The company will receive funding over the next 6 months. The company will either issue 10% coupon convertible note or a zero coupon convertible note.

The 10% note has a tenure of 3 years and will mature on October 30, 2024 at a floor conversion price of $15 per share. The zero coupon note has a tenure of up to 3 years and will mature on October 30, 2024 at a floor conversion price of $11.9 per share. The company has entered into subscription agreements pursuant to the transaction.

The transaction will include participation from existing shareholders including Macan Pte Ltd for $3,500,000.