As mentioned in another thread, I like this. Instruments that look like debt (terms and interest rates) generally are the instruments of lower risk investors. L

As mentioned in another thread, I like this. Instruments that look like debt (terms and interest rates) generally are the instruments of lower risk investors. Linking them to equity is the game of wall street arb desks. Turning the instrument into a warrant is more in lines with high stage early equity investing - giving folks an option on a potentially large upside.