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Percent Venture Debt – December Rollover – Investor Interest Survey

As a significant investor in our existing Percent Venture Loan, “PCT1 2022-1”, we wanted to inform you of the note’s upcoming rollover. Concurrent to Percent’s Series B capital raise of $25MM, of which $20MM has officially closed, the Company will look to refinance the offering into a new note, PCT Venture Loan Sr. 2022-2 (“PCT1 2022-2”).

There are material changes from the outstanding offering, mostly pertaining to the tenor of the offering, and a prominent co-investor. The offering’s legal maturity will be 18 months and a large portion of the offering will be refinanced by a Tier 1 investment bank’s venture debt arm at similar terms compared to PCT1 2022-2 and will be pari-passu to PCT1 2022-2. Consequently, based on this expected downsize, and the duration of the note, we are going to have to prioritize the order book in descending order starting with the largest to keep to the 99-investor limit.

PCT Venture Loans Sr. 2022-2

Term: 18 Months

APY Range: [14.0 – 18.0]%

Minimum Investment: $20,000 – $25,000

Payment Structure: Monthly interest payments, principal repayment at maturity (subject to T+3 settlement)

About Percent

  • Percent Technologies has created a software suite for borrowers, underwriters, and investors looking to transact in private debt markets that has leveraged many learnings from their two plus years in beta as the sole underwriter on the Platform.
  • Percent Technologies has executed over $1 billion in transaction volume across over 380 deals both on and off the Platform and have iterated on their software offering throughout the process.
  • Percent completed an acquisition from MidCap Financial, managed by a subsidiary of Apollo Global Management Inc., that the Company will leverage to accelerate their data surveillance capabilities across all borrowers in their ecosystem.
  • The Company currently leverages Anzen’s Decentralized Finance (“DeFi”) protocol and treasury reserve to provide partial default protection for select offerings in the Percent Blended Note program.

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