According to Leader Environmental Technologies, the conversion price of 10 cents per share represents a premium of 73.9% to the volume-weighted average price (VWAP) of the last trading day of the company prior to the announcement.
Following its trading halt on Oct 10, environmental solutions provider Leader Environmental Technologies announced, on Oct 11, that it entered into a definitive agreement with InnoVision Pomelo LP for US$15 million ($21.6 million) in convertible bonds (CB).
InnoVision Pomelo LP is a special purpose vehicle (SPV) established by China InnoVision Capital GP. Founded in 2016, China InnoVision Capital is broadly seen as an institutionalized Asian / Chinese private equity 3.0 manager with a strong and proven track record.
