SeaDragon Limited (NZSE:SEA) announced a private placement of a convertible loan note for gross proceeds of $3 million on Jun 14, 2018. The transaction will include participation from Pescador Holdings and Bioscience Managers Pty Ltd. The note will mature on March 31, 2020. The note will be convertible into common shares of the company at a conversion price of $0.0033 per share. The transaction is subject to shareholders approval.