Vivid Technology Limited (ASX:VIV) announced that it has entered into a convertible loan agreement for gross proceeds of AUD 1,500,000 with Evercharge Pty Ltd on July 31, 2018. The note is convertible into common shares of the company at a conversion price lesser of AUD 0.125 or greater of the volume weighted average price over a period of twenty days prior to and including the conversion date less a discount of 15% or the floor price of AUD 0.05. The bonds carry an interest rate of 10% payable per annum. The bonds will mature on July 31, 2020. The company will pay facility fee of 1% per annum of the undrawn commitment amount.