EcoRub AB (publ) (XSAT:ECO B) announced that it has entered into an agreement for a private placement of 25 convertible bonds at SEK 97,197 per bond and options for gross proceeds of SEK 2,429,925 on September 29, 2017. The transaction will include participation from Bracknor Fund Ltd, a fund managed by Bracknor Capital LTD. The bonds are interest-free and have a maturity of 12 months. The conversion of convertible bonds to new B-shares in the company can be done continuously during the convertibles' maturity and at a rate equivalent to an amount of 90% of the lowest daily volume weighted average price according to the official price list for the share in the company during the 15 trading days preceding the date of request about conversion. The conversion rate may not be fixed at a lower amount than SEK 0.20 per share. At full exercise of these 25 convertible bonds, the number of B-shares can increase by no more than 12,149,625, of which the share capital may increase by no more than SEK 303,740. The company issued 4,859,850 options with each option exchangeable into 1 share of the company. The options will expire on November 30, 2021 at an exercise price of SEK 0.40 per share. The options shall have a maturity of four years, of which subscription of shares, with the aid of options, shall be made continuously during the life of the option. The investor received a commitment fee of 3 convertible bonds as part of the transaction.