La Mancha Fund SCSp (the “Fund”), a fund advised by La Mancha Capital Advisory LLP (“La Mancha”), is pleased to announce that it has completed its acquisition of a $15 million convertible note from Horizonte Minerals PLC (“Horizonte”). The convertible note was issued by Horizonte at a 5.75% discount and bears a fixed interest rate of 11.75% per annum; it can be converted into Ordinary Shares of Horizonte at La Mancha’s option at a price of GBP0.87/sh and has a 10-year maturity. The Fund currently owns 19.9% of Horizonte’s issued and outstanding Ordinary Shares (on an undiluted basis).
La Mancha completes us$15 million convertible note of Horizonte Minerals PLC
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