Investment Structure

Base Security

Subordinated or Mezzanine Debt, Junior Secured Loans, Preferred Stock and Common Equity.

Coupon

Notes will include a cash payment and may also include a Payment-in-Kind ("PIK") component. Preferred Stock will have a current or PIK dividend.

Maturity

Typically between five to seven years.

Equity Features

Structured based upon the risk characteristics of the investment and can take the form of Convertible Debt, Preferred Stock, Detachable Warrants or Common Equity Co-Investment.

Board Representation

Parkway may require board representation or board observation rights.