Good News Riverfort Global Opportunities has been working with MBIO since before their move to become public. This move to,convert the loan to shares does not appear to be some desperate attempt by RGO to insure getting $$ back from its loan agreement (as at least one person is suggesting on CEO). In fact it represents only a fraction of the drawdown available to MBIO.
When looked at practically it certainly serves a useful purpose to MBIO. Where do you find cash to pay off the loan? It's also a potential windfall for RGO. At between 8% and 10% annually for the loan and having had time to digest the results thus far, RGO, has ascertained the risk and made the conclusion they stand to make significantly more should the outcomes of the current trials be equally as positive.
https://www.accesswire.com/853473/lender-requests-to-convert-loan-to-mindbio-shares