Parazero Limited (ASX:PRZ) announced a private placement of 144,500 convertible notes at a price of AUD 1 per note with gross proceeds of AUD 144,500 on April 13, 2020. The notes will be issued at par and carry zero coupon rate. The notes are redeemable and are convertible into ordinary shares. The transaction is expected to close on August 3, 2020.