Convertible security

Cowen Declares Quarterly Dividend On Its Series A Cumulative Perpetual Convertible Preferred Stock And Increases Common Stock Share Repurchase Authorization

Tuesday, October 27, 2020 - 8:15pm

NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ:COWN) (Cowen or the Company) today announced that its Board of Directors has declared a quarterly cash dividend of $14.06 per share on the Companys 5.625% Series A Cumulative Perpetual Convertible Preferred Stock (the Convertible Preferred Stock).

Key Points: 
  • NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ:COWN) (Cowen or the Company) today announced that its Board of Directors has declared a quarterly cash dividend of $14.06 per share on the Companys 5.625% Series A Cumulative Perpetual Convertible Preferred Stock (the Convertible Preferred Stock).
  • The quarterly dividend on the Convertible Preferred Stock is payable on November 16, 2020, to holders of record at the close of business on November 2, 2020.
  • The Cowen Board of Directors today also announced that it has approved an increase in the Companys existing share repurchase program for its common stock.
  • With this increase, the total now available for repurchase under the current plan is $25 million.

Itasca Closes Previously Announced Capital Raise and Appoints Paul Rivett and Rick Doman to its Board

Thursday, October 22, 2020 - 9:00pm

Concurrently with the closing of the Private Placement, each of Mr. Paul Rivett and Rick Doman were appointed to Itasca's Board.

Key Points: 
  • Concurrently with the closing of the Private Placement, each of Mr. Paul Rivett and Rick Doman were appointed to Itasca's Board.
  • Each Unit is comprised of one Common Share and one Common Share purchase warrant of Itasca (a "Warrant").
  • Each Convertible Debenture is secured, and has a maturity date of two years from the date of issuance.
  • Prior to the purchases pursuant to the Private Placement neither Mr. Rivett nor Mr. Doman beneficially owned or controlled any Common Shares.

Clarus Corporation Announces Proposed $85 Million Convertible Senior Notes Offering

Wednesday, October 21, 2020 - 9:05pm

SALT LAKE CITY, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Clarus Corporation (Nasdaq: CLAR) (Clarus, Company, we, us or our) announced today it has commenced a public offering of $85 million aggregate principal amount of convertible senior notes due 2026 (the Notes).

Key Points: 
  • SALT LAKE CITY, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Clarus Corporation (Nasdaq: CLAR) (Clarus, Company, we, us or our) announced today it has commenced a public offering of $85 million aggregate principal amount of convertible senior notes due 2026 (the Notes).
  • Prior to May 1, 2026, the Notes will be convertible at the option of the holders during certain periods, upon satisfaction of certain conditions.
  • Thereafter, the Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.
  • The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of the pricing of the offering.

DGAP-News: PREOS Real Estate AG: further increase of the 7.50 % convertible bond by EUR 40.0 million

Friday, October 16, 2020 - 11:01am

Leipzig, 16.10.2020 - PREOS Real Estate AG (in future: PREOS Global Office Real Estate & Technology AG, "PREOS", ISIN DE000A2LQ850) has increased its 7.50% convertible bond (2019/2024, ISIN DE000A254NA6) by further partial debentures with a nominal value of EUR 40.0 million.

Key Points: 
  • Leipzig, 16.10.2020 - PREOS Real Estate AG (in future: PREOS Global Office Real Estate & Technology AG, "PREOS", ISIN DE000A2LQ850) has increased its 7.50% convertible bond (2019/2024, ISIN DE000A254NA6) by further partial debentures with a nominal value of EUR 40.0 million.
  • The outstanding volume of the PREOS convertible bond increases to a nominal EUR 219.4 million.
  • Overall, the convertible bond has a maximum volume of up to EUR 300 million.
  • Frederik Mehlitz, CEO of PREOS Real Estate AG, comments: "We are pleased about the additional financial resources that we will receive by placing a further tranche of our convertible bond.

Redfin to Offer $525 Million of Convertible Senior Notes Due 2025

Wednesday, October 14, 2020 - 9:05pm

SEATTLE, Oct. 14, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced that it proposes to offer $525 million aggregate principal amount of convertible senior notes due 2025 (the "notes"), subject to market conditions and other factors.

Key Points: 
  • SEATTLE, Oct. 14, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced that it proposes to offer $525 million aggregate principal amount of convertible senior notes due 2025 (the "notes"), subject to market conditions and other factors.
  • The notes will mature on October 15, 2025, unless repurchased, redeemed or converted in accordance with their terms prior to such date.
  • Upon conversion, the notes may be settled in shares of Redfin common stock, cash or a combination of cash and shares of Redfin common stock, at the election of Redfin.
  • Redfin expects to use a portion of the net proceeds from the offering of the notes, together with shares of Redfin common stock, to repurchase a portion of its outstanding 1.75% convertible senior notes due 2023 (the "2023 notes") as described below.

Taronis Fuels Retires $7.05 Million of Convertible Note

Thursday, October 15, 2020 - 2:30pm

PHOENIX, AZ, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (Taronis or the Company) (OTCQB: TRNF),a global producer of renewable and socially responsible fuel products, today announced it intends to repay $7.05 million of the existing $7.65 million senior, secured convertible note.

Key Points: 
  • PHOENIX, AZ, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (Taronis or the Company) (OTCQB: TRNF),a global producer of renewable and socially responsible fuel products, today announced it intends to repay $7.05 million of the existing $7.65 million senior, secured convertible note.
  • Only one note holder requested to continue to maintain their existing $0.6 million note.
  • Approximately $1.6 million in existing note holders elected to exchange their convertible notes on the same terms as the private placement.
  • We believe the decision to retire nearly all of the convertible note makes a great deal of sense from several perspectives, commented Scott Mahoney, CEO of Taronis Fuels.

NOXXON Secures Expanded Capacity and Improved Conversion Conditions for Convertible Bonds From Atlas

Wednesday, October 14, 2020 - 6:00pm

The conversion price for conversion of outstanding convertible bonds to shares shall now be the 5-day volume weighted average price (VWAP) of the companys shares directly preceding the date of conversion.

Key Points: 
  • The conversion price for conversion of outstanding convertible bonds to shares shall now be the 5-day volume weighted average price (VWAP) of the companys shares directly preceding the date of conversion.
  • These changes provide additional capacity for financing on an as-needed basis and improve the conditions of conversion.
  • NOXXON will draw-down two additional 475,000 tranches of convertible bonds following the closure of the amended agreement.
  • (assuming that Conversion Price will always be equivalent to the October 13, 2020 5-day volume weighted average price 0.509)

Pyxis Tankers Announces Closing of $5.0 Million Public Offering of Convertible Preferred Shares & Warrants

Tuesday, October 13, 2020 - 9:05pm

Each Unit is immediately separable into one 7.75% Series A Cumulative Convertible Preferred Share (the Preferred Shares) and eight (8) warrants, each warrant exercisable for one common share (the Warrants), for a total of up to 1,600,000 common shares of the Company.

Key Points: 
  • Each Unit is immediately separable into one 7.75% Series A Cumulative Convertible Preferred Share (the Preferred Shares) and eight (8) warrants, each warrant exercisable for one common share (the Warrants), for a total of up to 1,600,000 common shares of the Company.
  • The Preferred Shares and Warrants trade on Nasdaq Capital Market under the symbols PXSAP and PXSAW, respectively.
  • Pyxis Tankers has granted the underwriters a 45-day option to purchase up to 30,000 additional Preferred Shares and/or 240,000 additional Warrants solely to cover over-allotments, if any.
  • Pyxis Tankers received gross proceeds of $5.0 million from the Offering, prior to deducting underwriting discounts and estimated offering expenses.

DGAP-News: MorphoSys AG Successfully Places EUR 325 Million Convertible Bonds

Tuesday, October 13, 2020 - 4:12pm

The bonds will be convertible into new and/or existing no-par value ordinary bearer shares of MorphoSys.

Key Points: 
  • The bonds will be convertible into new and/or existing no-par value ordinary bearer shares of MorphoSys.
  • The convertible bonds with a denomination of EUR 100,000 each will be issued at 100% of their principal amount.
  • Unless previously converted, redeemed or repurchased and cancelled, the convertible bonds will be redeemed at their principal amount on October 16, 2025.
  • The convertible bonds were priced with a coupon of 0.625% per annum, payable semi-annually in arrear.

Molecular Data Inc. Announces Private Placement of up to US$5.0 Million Convertible Debentures

Tuesday, October 13, 2020 - 2:08pm

The private placement of such convertible debentures is subject to customary closing conditions.

Key Points: 
  • The private placement of such convertible debentures is subject to customary closing conditions.
  • The convertible debentures to be issued to the Purchaser bear interest at a rate of 5% per year.
  • The convertible debentures will mature upon one-year anniversary of the issuance date unless redeemed or converted in accordance with their terms prior to such date.
  • Subjected to and upon compliance with the terms of the convertible debentures, the Purchaser has the right to convert all or any portion of the convertible debentures at its option at any time.