Investment Structure

Base Security

Bridge Notes, Junior Secured Loans, Subordinated Notes, Preferred Stock and Common Equity.

Coupon

Generally the notes will require a cash payment reflective of current market conditions. Preferred Stock will have a current or a deferred dividend.

Maturity

Bridge Notes will be refinanced within a maximum of six months. On Subordinated Notes maturity will range from 5 to 7 years typically with no amortization to maturity.

Equity Features

Structured based upon the risk characteristics of the investment. Can take the form of Convertible Debt, Preferred Stock, Detachable Warrants, or Common Equity co-investment.

Financial Covenants

Documentation will usually contain financial covenants standard to this type of financing.

Board Representation

PCI may have board representation or board observation rights.