Audioboom Group plc (AIM:BOOM) announced a private placement of convertible loan notes for the gross proceeds of £1,000,000 on April 27, 2018. The transaction included participation from existing investor, Candy Ventures Sarl. The notes carry coupon rate of 10% per annum. The notes are convertible into common shares of the company at an exercise price higher of £0.02 per share or a price equivalent to 65% of the price at which new common shares are issued to investors pursuant to next fundraising. The company will pay arrangement fee of £50,000 and the investor's legal costs of £2,500.