To: jane.david@yp.com 

From: karen.norris@panacead.com

Date: 10 September 2025, 11:12

Subject: Funding an acquisition of Krynoxi/Introdisem

Good morning Jane,

Thank you for replying to my emails yesterday – issues always seem to pop up in multiples! 

On another note, I just had a thought – if we do press ahead with acquiring Krynoxi, how would we finance the deal?  

Panacead has had some great relationships with the banks – we have taken out term loans in the past to finance our extensive R&D projects. Needless to say, we have always repaid them on schedule and the banks are quite favourable to us!  

Oh, I know there is another way of raising cash through debt…but for the life of me I cannot remember it! If there is another way, I’d like to know what it is and whether it is worth pursuing. 

Finally, we’re a public company, so correct me if I am wrong but there must be a way to use that to our advantage if we are looking to raise capital?

I am a little unclear on the exact options open to us, so if you could clarify what they are, what their pros and cons are, and which one is the right one for us, that’d be really helpful! 

Best,  

Karen

To: john.smith@yp.com 

From: jane.david@yp.com

Date: 10th September 2021, 11:36

Subject: FWD: Funding an acquisition of Krynoxi/Introdisem

Hi John, 

Please see the forwarded email. I am dealing with a closing right now – can you handle this over the next couple of days? 

Many thanks, 

Jane