PharmaJet, Inc. announced that it has entered into a non binding term sheet through which it will raise between $12 million to $20 million in the round of funding led by new investor Adamas Finance Asia Limited (AIM:ADAM) on January 14, 2019. The transaction will include participation from Adamas Finance Asia Limited (AIM:ADAM), for $5 million, and other investors. The bonds have a 4-year maturity and an annual coupon of 10%, which further includes 6% cash and 4% payment-in-kind. The bond will be drawn in tranches with the first tranche provided subject to the satisfaction of certain conditions including completion of legal due diligence and execution of binding documentation. The bonds are convertible at the discretion of its holders at a 40% discount to a pre-money valuation established by any liquidity event.