Black Robin is raising $3.75M from Wholesale Investors only by way of Convertible Notes.
Investors receive an interest rate of 10%p.a. (less withholding tax) paid on the Notes, plus a potential capital gain by either t redeeming Notes for cash value of the shares at Maturity Date (31 December 2024) or convert into Ordinary Shares in Black Robin if the cash exit is not selected by the investor.
The minimum investment is $50,000, or invest more (increasing in $10,000 increments).
This structure provides investors the opportunity to grow their initial capital investment while receiving interest payments subject to normal commercial investment risk.
Black Robin will share a pro-rata split of the uplift in the value of Black Robin Equity Limited on the maturity date, being 31st December 2024. The value will be determined by an independent valuation.
As the Information Memorandum relays, if the value is above $1.00 per share (in effect $12 million), this value will be paid to convertible note holders. For example, if the valuation is $1.20 per share ($14.4 million) then the convertible note holders will receive this amount either in the form of ordinary shares in Black Robin Equity or as a cash payment.
If the valuation is below $1.00 per share, then at maturity the convertible note holders will receive $1.02 in value per share if their investment is converted to shares or full repayment of their principal investment if the convertible note holder selects the cash payment option.
The Directors consider that a share price of $1.00 per share in three years’ time is realistically achievable based on the level of development activity currently being undertaken by the company and the potential growth in development activity over the next three years. The above figures are for illustrative purposes only and are not forward looking statements and do not indicate, guarantee, nor forecast future Share Prices or returns.
The founder shareholders will not receive any dividends from Black Robin before 31st December 2024 and will not allow a security interest to be taken over the assets of Black Robin that would rank ahead of the convertible note holders.
Please ensure that you read Section 5 – Offer Details and Section 6 – Risks of the Information Memorandum. Property development carries inherent risks as do all financial products, which may affect performance of this investment.
What is my money used for?
- Black Robin’s expansion and purchase of properties for development as we carry out our business plan.
Who is Black Robin?
- Black Robin is a team of property professionals with 100+ years combined experience under our belts.
Black Robin has recently purchased its third development site and its target is to achieve 120 homes under development over the next 12 months, with a target of 400-500 homes each year by December 2024. As at the time of this post, Black Robin has three projects underway to build circa 73 new homes. Our projects are at various stages of completion and we have started the resource consent process for our latest acquisition.
The first interest payment to existing investors under the Offer was made on 15 October 2021. Payments are intended to be made quarterly in arrears on the 15th day of the month following the end of each quarter. The next planned interest payment date is 15 January 2022.
Interest will begin accruing once an investor has signed and provided Black Robin with all necessary subscription documents and has paid its applicable investment amount.
Join Black Robin’s founders and existing investors. We have raised $1M+ of the total amount of $3.75M and will not be accepting any more investment once the total offer amount is filled.