MSL Solutions Limited. announced a private placement of 4,500,000 unsecured convertible note at issue price of AUD 1 per note for gross proceeds of AUD 4,500,000 on September 30, 2021. The transaction included participation from new investor, TC MSL, LLC. The notes are issued with zero coupon. The notes are convertible into 21,655,438 shares of the company. The notes are 36-month term maturity and conversion into equity at any time prior to maturity. The conversion rate of AUD 0.2078 per note, being the 10-day VWAP of the company shares, with face value of AUD 1 per note.