Pantoro (ASX:PNR) said that Nebari Partners exercised an option to convert a $2.1 million of its convertible loan facility into 32.9 million fully paid ordinary shares of Pantoro, according to a Thursday Australian bourse filing.
The conversion price was $0.0636 per share.
The conversion reduced Pantoro's total debt position to $10.4 million.
The firm's shares rose almost 2% on market close on Thursday.
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