Lilis Energy Inc. agreed to borrow $125 million under an 8.25% p.a. convertible second lien term loan facility maturing April 2021 from six funds managed by private Minneapolis-based money manager Varde Partners Inc. The loan is convertible into common stock at $5.50 a share. Under terms of the financing, a Varde designee has joined as board observer and upon conversion of the loans into common, the Varde group may receive two board seats reflecting......
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