LumX Group Limited (SWX:LUMX) announced a private placement of unsecured subordinate convertible notes for gross proceeds of CHF 7,500,000 on May 29, 2019. The transaction included participation from professional investors. The notes will mature on March 21, 2022. The holder will have the option to convert notes into shares of the company. The notes will carry a fixed interest rate of 10% through December 31, 2019 and thereafter will increase by 2.5% per quarter up to maximum of 20%. The notes will have an conversion price set to 75% of the lower of (i) issuance price per share in case of issuance of equity and (ii) price per share at an equity value of CHF 37,333,333.