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Convertible redeemable preference shares or convertible notes. |
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Preference for ultimate minority holdings of between 10% to 40% or a structure that involves dilution through successive funding rounds. |
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Initial Investments of approximately $1.5 - $2 million invested in tranches, determined by milestones. Around $1.5-$2m will be reserved for follow-on funding. |
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The funds will be used for either production engineering and/or initial marketing and should match an already spent R&D expenditure of $1.5 million. |
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All investments will have shareholder agreements. |
