The Sanity Group GmbH announced that it has issued unsecured convertible note for gross proceeds of ?14 million on June 25, 2024. The transaction included participation from new investor Organigram Holdings Inc. The unsecured convertible note yields 10% annual paid-in-kind (PIK) interest for a minimum of three years and is convertible at a discount to the price established by company's next qualified financing into the most senior class of shares (currently Series B). The investor has an option, subject to certain terms and conditions, to invest an additional ?3 million on substantially the same terms as the Note which would bring its total investment to ?17 million.