Tivan Limited has announced the full early redemption of all convertible notes issued to SBC Global Investment Fund. The transaction forms part of a strategic capital raising executed in early 2024 when Tivan Limited secured funding through a convertible note facility established with SBC, a fund affiliated with L1 Capital Global Opportunities Master Fund. Under the facility, the company received two main tranches: an initial tranche providing $2.8 million cash against 3.3 million convertible notes with a total face value of $3.3 million, and a second tranche of $0.551 million cash issued in exchange for 0.65 million convertible notes with a face value of $0.65 million. Originally, the terms of the notes stipulated repayment in 17 pro rata monthly instalments over 18 months, with the first tranche maturing on 5 October 2025 and the second on 25 December 2025. Tivan Limited had already repaid the first tranche ahead of its maturity in April 2025. The recent redemption involved a final cash payment of $267,650 to satisfy the remaining obligation of the second tranche, resulting in the full discharge of the convertible notes from SBC. Additionally, as part of the facility agreement, Tivan Limited issued 20,000,000 shares to SBC as collateral in April 2024 without any upfront consideration. Following the redemption, a payment notice was received for 5,882,353 of these shares, leaving a balance of 14,117,647 shares for which payment is due within the next six months. With the loan fully repaid, the company plans to seek the removal of the security arrangements held by SBC against its assets before the end of the current financial year. From a bullish perspective, the early redemption of the convertible notes and the forthcoming removal of security arrangements underscore an improvement in Tivan Limited’s balance sheet and debt profile, potentially positioning the company more favorably in the eyes of investors and credit providers. This proactive financial management could be seen as a positive signal for future growth and stability. Conversely, the bearish side notes that the pending payment for the remaining collateral shares introduces an element of short-term uncertainty. Should there be delays or complications in securing that payment, there might be temporary liquidity pressures that could affect the company’s near-term financial flexibility. Investors should also consider the inherent risks associated with forward-looking statements and market volatility in their assessment of the overall outlook.