VIP Gloves Limited announced a private placement of 100,000 redeemable convertible note at a price of AUD 1 per share for gross proceeds of AUD 100,000 on June 28, 2022. The notes carry a coupon of 9% per annum and would mature on April 30, 2023. The notes are convertible into common shares of the company at AUD 0.025 per share or a 5-day volume weighted average price of the company's shares as traded on the ASX up to the maturity date, whichever is higher.