Convertible Debentures

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Firm Capital Mortgage Investment Corporation Announces $20 Million Bought Deal Financing
Globenewswire· 2025-10-06 20:30
Core Viewpoint - Firm Capital Mortgage Investment Corporation has announced a bought deal offering of $20 million in 5.50% convertible unsecured subordinated debentures, with potential total proceeds of $23 million if the over-allotment option is fully exercised [1][2]. Group 1: Offering Details - The offering consists of $20 million aggregate principal amount of debentures priced at $1,000 each, with an over-allotment option for an additional $3 million [1]. - The expected closing date for the offering is around October 14, 2025, pending necessary regulatory approvals [2]. - The debentures will bear interest at a rate of 5.50% per annum, payable semi-annually, and will mature on December 31, 2032 [3]. Group 2: Conversion and Redemption - Holders of the debentures can convert them into common shares at a conversion price of $14.06 per share before the maturity date [3]. - The debentures are not redeemable before December 31, 2028, and can be redeemed at the Corporation's option under specific conditions thereafter [4]. - The Corporation has the right to repay the principal amount of the debentures through the issuance of shares upon maturity or redemption [6]. Group 3: Corporate Structure and Purpose - The debentures will be direct, unsecured obligations of the Corporation, subordinated to senior indebtedness [5]. - The net proceeds from the offering will be utilized for debt repayment and general corporate purposes [2]. - Firm Capital Mortgage Investment Corporation operates as a non-bank lender, focusing on residential and commercial short-term financing [11].
Hydreight Announces Closing of its Oversubscribed $11.5 Million Convertible Debenture Offering, Including Full Exercise of Over-Allotment Option
Globenewswire· 2025-09-04 13:01
Core Viewpoint - Hydreight Technologies Inc. has successfully closed a private placement of unsecured convertible debentures, raising gross proceeds of C$11,500,000 to support its growth strategy and operational efficiency [1][4]. Group 1: Offering Details - The company issued a total of 11,500 convertible debentures at an issue price of C$1,000 each, including 1,500 debentures sold under the agent's over-allotment option [1]. - The debentures are unsecured, maturing on September 4, 2028, with an annual interest rate of 9.0%, payable semi-annually starting December 31, 2025 [2]. - Holders of the debentures can convert them into common shares at a conversion price of C$4.06 per share [2]. Group 2: Forced Conversion Right - The company has the option to force the conversion of the debentures if the volume-weighted average trading price of its common shares exceeds C$5.08 for 20 consecutive trading days [3]. - A notice will be provided to debenture holders if the forced conversion right is exercised, specifying the conversion date, which will be at least 30 days after the notice [3]. Group 3: Financial and Operational Insights - The CEO highlighted that the company has reached profitability as reflected in its Q2 financials and emphasized the importance of this funding for accelerating growth [4]. - The net proceeds from the offering will be utilized for general corporate and working capital purposes [5]. Group 4: Company Overview - Hydreight Technologies Inc. is developing a large mobile clinic network in the U.S., with a platform that connects over 2,500 nurses and 100 doctors across all 50 states [8]. - The platform includes integrated tools for healthcare professionals to provide services directly to patients, enhancing convenience and compliance [8].
Jeffs' Brands: Fort Technology Announces Closing of a CAD 5 Million Private Placement of Convertible Debenture Representing a Valuation of Approximately CAD 27 million
GlobeNewswire News Room· 2025-08-22 13:29
Core Viewpoint - Jeffs' Brands Ltd has announced the completion of a private placement of convertible debentures by its subsidiary Fort Technology Inc, raising CAD 5 million, which will be used for working capital and loan support [1][5]. Group 1: Private Placement Details - The private placement of convertible debentures has a maturity date of two years from issuance and carries an interest rate of 10% per annum, with quarterly payments starting from the closing date until September 30, 2025 [2]. - The principal amount of the convertible debentures can be converted into units of Fort at a price of CAD 0.185 per unit, with each unit consisting of one common share and one warrant [2]. - The private placement values Fort at approximately CAD 27 million [2]. Group 2: Company Participation and Compliance - Jeffs' Brands and its CEO participated in the private placement, with the company purchasing CAD 2.2 million worth of convertible debentures, constituting a related-party transaction [4]. - The private placement was conducted under certain prospectus exemptions and is subject to a holding period in compliance with applicable securities laws and TSX Venture Exchange rules [3]. Group 3: Company Background - Jeffs' Brands aims to transform e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and human capability [6]. - Fort Technology Inc specializes in manufacturing and selling products for the pest control and remedial repair industry [7].
Galleon Gold Completes $7.5M Oversubscribed Private Placement of Convertible Debentures
Newsfile· 2025-07-18 20:01
Core Viewpoint - Galleon Gold Corp. has successfully closed the second and final tranche of its non-brokered private placement offering of convertible debentures, raising a total of $7,500,000 for its West Cache Gold Project and general working capital [1][4]. Offering Details - The offering consists of 20 convertible debentures with gross proceeds of $1,000,000 from this tranche [1]. - The debentures have a term of 36 months and bear an interest rate of 8.0% per annum, payable in cash or common shares at the investor's option [2]. - The conversion price for the debentures is set at $0.30 per common share [2]. Conversion Terms - Holders of the debentures can convert any portion of the principal into common shares at the conversion price during the term [3]. - If converted before the term ends, accrued interest will be payable in common shares based on the higher of the average closing price of the last 20 trading days or the closing market price [3]. Finder's Fees - The company paid finders' fees consisting of a cash commission of $60,000 and 200,000 non-transferrable finders' warrants, each allowing the holder to acquire one common share at $0.36 over a two-year period [4]. Use of Proceeds - Proceeds from the offering will be utilized for exploration and advancement of the West Cache Gold Project in Timmins, Ontario, as well as for general working capital [4]. Regulatory Compliance - The debentures and any underlying common shares will be subject to a hold period of four months and one day from the closing date, in accordance with applicable securities laws [5].
Optimi Health Announces $3.45 Million Convertible Financing and Extension of Secured Term Loan
Newsfile· 2025-07-18 11:00
Core Viewpoint - Optimi Health Corp. has announced a non-brokered private placement of CAD$3.45 million through the issuance of unsecured convertible debentures and an extension of a secured term loan, aimed at enhancing its working capital and financial flexibility [1][3]. Group 1: Convertible Debentures - The company plans to issue 3,450 unsecured convertible debentures at a price of CAD$1,000 each, totaling gross proceeds of CAD$3,450,000 [1]. - The convertible debentures will have an interest rate of 15.0% per annum, payable quarterly, and will mature in 12 months, extendable for an additional 12 months [1][2]. - The conversion price for the debentures is set at $0.15, based on the closing price of the common shares prior to the subscription agreement [1][2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general working capital purposes [3]. - All securities issued will be subject to a hold period of four months and a day from the issuance date, in compliance with CSE rules [3]. Group 3: Related Party Transactions - The offering constitutes a related party transaction, involving the CEO and Chair of the Board as investors, with their respective holdings post-acquisition being 12.29% and 8.52% of the company [3]. - The company is relying on exemptions from certain valuation and minority shareholder approval requirements due to the fair market value of the insiders' participation not exceeding 25% of the company's market capitalization [3]. Group 4: Secured Term Loan - The company has extended a non-dilutive debt financing agreement for CAD$1,000,000, secured against its assets, with a new maturity date of April 30, 2026 [4][5]. - The loan bears an interest rate of 7.5% per annum, payable quarterly, and the company can repay the loan at any time with prior notice [5]. - As part of the loan extension, the company has granted 400,000 common share purchase warrants, exercisable at $0.25 per share for two years [5]. Group 5: Company Overview - Optimi Health Corp. is a Health Canada-licensed manufacturer of GMP-compliant natural psilocybin and MDMA, focusing on high-quality psychedelic products to support mental health therapies [6].
Atrium Mortgage Investment Corporation Announces $30 Million Public Offering of Convertible Unsecured Subordinated Debentures
Globenewswire· 2025-06-12 20:13
Core Viewpoint - Atrium Mortgage Investment Corporation has announced an agreement to issue $30 million in 6.00% convertible unsecured subordinated debentures, with an option for an additional $4.5 million, to repay existing debt and fund future mortgage opportunities [1][2]. Group 1: Offering Details - The offering consists of 6.00% convertible unsecured subordinated debentures due September 30, 2032, priced at $1,000 each [1]. - The total gross proceeds could reach $34.5 million if the over-allotment option is fully exercised [1]. - The expected closing date for the offering is around June 30, 2025, pending necessary approvals [2]. Group 2: Debenture Terms - The debentures will accrue interest at 6.00% per annum, payable semi-annually starting March 31, 2026 [3]. - Holders can convert the debentures into common shares at a conversion price of $13.65, subject to adjustments [3]. - The debentures are direct, unsecured obligations of Atrium and are subordinated to other senior debts [4]. Group 3: Redemption and Repayment - The debentures are not redeemable before September 30, 2028, with specific conditions for redemption thereafter [5]. - Atrium has the right to repay the principal amount through the issuance of common shares, and can also pay interest in common shares [6]. Group 4: Company Overview - Atrium is a non-bank provider of residential and commercial mortgages, focusing on major urban centers in Canada [9]. - The company aims to provide stable dividends and preserve shareholder equity by adhering to conservative risk parameters [9]. - Atrium operates as a Mortgage Investment Corporation (MIC) under Canadian tax law, allowing it to avoid taxation on income if distributed as dividends [10].