Issuer:
Land Betterment Corporation, an Indiana Benefit Corporation
Amount:
$75,000,000
Structure:
Impact Note, Secured Promissory Note.
Term:
5 years
Interest:
8%, Compounded Quarterly
Convertible:
Convertible at $20.00 per share at option of holder.
Warrants:
10% warrant coverage at $25.00 per share with a 3-year term.
Impact Conditions:
175 sustainable jobs and 250 sustainable eko rental homes.
Issuer Impact Benefit:
50 basis point interest rate reduction for periods when Impact Conditions are met.
* Summary of key terms is for illustration purposes only. Please refer to subscription documents for details as terms may be altered and contain additional or modified details.