Workflow
Debenture Restructuring
icon
Search documents
Acceleware Announces Proposed Debenture Restructuring
TMX Newsfile· 2026-03-18 22:14
Core Viewpoint - Acceleware Ltd. is planning a restructuring of its outstanding debt owed to 10% unsecured convertible debenture holders, amounting to up to $2,400,000, which includes total principal and accrued unpaid interest [1]. Details of Debenture Restructuring - The company offers existing debenture holders the option to convert their outstanding amounts into units consisting of one common share and one warrant, with the warrant allowing the purchase of a common share at $0.20 for 24 months [2]. - If the common shares trade at or above $0.30 for 30 consecutive trading days, Acceleware may accelerate the expiry of the warrants [3]. Replacement Debentures - Replacement debentures will have a maturity of four years and a conversion price of $0.15, with each convertible into units comprising one common share and half a warrant [4]. Expected Completion - The company anticipates completing the debenture restructuring around March 24, 2026, with further details to be provided in a subsequent release [5]. Conditions for Completion - Completion is subject to regulatory approvals, debenture holder elections, and finalization of agreements, with no assurance that the restructuring will occur as described [6]. Insider Participation - Certain insiders are expected to participate in the restructuring, classifying it as a related party transaction, and the company will rely on exemptions from formal valuation and minority approval requirements [7]. Company Overview - Acceleware specializes in advanced electromagnetic heating technology, providing proprietary RF power-to-heat solutions aimed at increasing production and reducing energy consumption in industrial heating [8]. - The company is involved in multiple projects across sectors, including mining and amine regeneration, and is publicly listed on the TSX Venture Exchange under the symbol "AXE" [9].
Rakovina Therapeutics Announces Corporate Update Including up to $1.5 Million in New Financing, Leadership Appointments and Debt Restructuring
Globenewswire· 2026-01-27 20:49
Core Viewpoint - Rakovina Therapeutics Inc. is undergoing significant corporate updates, including leadership changes, debt restructuring, and financing initiatives to strengthen governance and enhance capital markets execution [1]. Debt Restructuring - The maturity date of the 12.0% convertible debentures, totaling $1,454,000, has been extended from January 28, 2026, to March 11, 2026, with consent from holders representing at least 66 2/3% of the outstanding principal [2][3]. - The company plans to restructure the outstanding 2023 Debentures, offering holders the option to convert their debentures into new Replacement Debentures or settle through a shares-for-debt conversion at $0.12 per share [4][5]. - An agreement in principle has been reached with an existing investor for an additional $1.0 million investment through a private placement of unsecured convertible debentures [7]. Financing Initiatives - The company proposes a concurrent private placement of up to 5,000,000 common shares at $0.12 per share, aiming for additional gross proceeds of up to $500,000 [9]. - The proceeds from the private placements will be used for near-term working capital to support ongoing corporate activities and strategic initiatives [10]. Leadership Changes - Kim Oishi has been appointed as the new Chief Executive Officer and will also join the Board of Directors, bringing extensive experience in public company leadership and capital markets strategy [11][12]. - Frank Holler has been appointed as an independent director, contributing significant expertise in life sciences and governance [16][18][21]. - Jeffrey Bacha will continue as the non-executive Chair of the Board, ensuring continuity and strategic oversight [13][15]. Board Composition - Dr. Dennis Brown has stepped down from the Board but will continue as Chair of the Scientific Advisory Committee, while Al DeLucrezia has also stepped down but will remain as an advisor [23][24]. - The Board's recent changes are aimed at enhancing governance and supporting the company's strategic initiatives in oncology [25][26]. Company Overview - Rakovina Therapeutics is focused on developing innovative cancer treatments that target the DNA damage response, utilizing advanced computational chemistry and AI-enabled drug discovery platforms [27].