Convertible security

Aventine Property Group Completes $100 Million Private Offering of Senior Unsecured Convertible Notes

Retrieved on: 
Monday, July 12, 2021
REIT, Alternative medicine, Health, Other Construction & Property, Construction & Property, Corporate finance, Aventine, Real estate investment trust, Convertible bond, Aventin, Convertible security

Aventine Property Group, Inc. (Aventine or the Company), one of the largest internally managed REITs serving the legal adult- and medical-use cannabis industry, announced today that it has completed a private offering of $100 million aggregate principal amount of 8.00% senior unsecured convertible notes due 2026 (the Notes).

Key Points: 
  • Aventine Property Group, Inc. (Aventine or the Company), one of the largest internally managed REITs serving the legal adult- and medical-use cannabis industry, announced today that it has completed a private offering of $100 million aggregate principal amount of 8.00% senior unsecured convertible notes due 2026 (the Notes).
  • The Notes will mature in July 2026, unless otherwise repurchased, redeemed, or converted.
  • Upon an initial public offering of the Companys common stock, the Notes will mandatorily convert into common stock at the time of such offering.
  • This capital raise is a transformative step for Aventine that validates our spin-off at the beginning of this year, said Raymond Lewis, President and Chief Executive Officer of Aventine.

GenTech Holdings, Inc. Provides Mid-Year Update: Multiple Acquisitions, Debt Reduction, Growth Acceleration

Retrieved on: 
Monday, July 12, 2021
Finance, Corporate finance, Money, Financial economics, Convertible bond, Debenture, Convertible security

During the first half of 2021, the Company has settled with multiple convertible noteholders, removing more than $1 million in convertible notes from the balance sheet.

Key Points: 
  • During the first half of 2021, the Company has settled with multiple convertible noteholders, removing more than $1 million in convertible notes from the balance sheet.
  • The Company plans to have no outstanding convertible debentures on its books by the end of Q2 2022.
  • David Lovatt, GenTech CEO, commented, The Fizzique acquisition is the most important deal in GenTech history.
  • This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects.

RENNOVA HEALTH, INC. ANNOUNCES REVERSE STOCK SPLIT

Financial markets, Financial economics, Corporate finance, Finance, Stock market, Equity securities, Preferred stock, Reverse stock split, Warrant, Convertible security, Stock, Common stock

In connection with the reverse stock split, there will be no change in the nominal par value per share of $0.0001.

Key Points: 
  • In connection with the reverse stock split, there will be no change in the nominal par value per share of $0.0001.
  • Based on the number of shares currently outstanding, on July 9, 2021, the reverse stock split will reduce the number of shares of the Companys common stock outstanding from approximately 10 billion pre-reverse split shares to approximately 10 million post-reverse split.
  • All outstanding preferred shares, stock options, warrants, and equity incentive plans immediately prior to the reverse stock split generally will be appropriately adjusted by dividing the number of shares of common stock into which the preferred shares, stock options, warrants and equity incentive plans are exercisable or convertible by 1,000 and multiplying the exercise or conversion price by 1,000, as a result of the reverse stock split.
  • Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers particular processes, and will not be required to take any action in connection with the reverse stock split.

Electrum Global Holdings L.P. Acquires Common Shares of Gabriel Resources Ltd. in Connection With Repayment of Convertible Note

Retrieved on: 
Friday, July 2, 2021
Financial markets, Finance, Financial economics, Corporate finance, Equity securities, Options, Warrant, Convertible security, Issuer, Promissory note

NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- On June 30, 2021, Electrum Global Holdings L.P. (Electrum) acquired 31,996,548 common shares (Common Shares) in the capital of Gabriel Resources Ltd. (the issuer) in connection with the issuers election to repay (the Repayment) and cancel all outstanding 0.025% convertible subordinated unsecured note (the Notes) of the issuer, including $9,271,000 principal amount of Notes held by Electrum.

Key Points: 
  • NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- On June 30, 2021, Electrum Global Holdings L.P. (Electrum) acquired 31,996,548 common shares (Common Shares) in the capital of Gabriel Resources Ltd. (the issuer) in connection with the issuers election to repay (the Repayment) and cancel all outstanding 0.025% convertible subordinated unsecured note (the Notes) of the issuer, including $9,271,000 principal amount of Notes held by Electrum.
  • The Common Shares were issued at a price of $0.28975 per Common Share.
  • Additional details relating to the Repayment can be found in the news release of the issuer dated June 24, 2021.
  • Also on June 30, 2021, 7,775,510 Common Share purchase warrants (Warrants) of the issuer held by Electrum expired (the Warrant Expiry) in accordance with their terms.

Special Opportunities Fund, Inc. Provides Details on Redemption of Convertible Preferred Stock

Retrieved on: 
Thursday, July 1, 2021
Banking, Professional services, Finance, Financial markets, Finance, Financial economics, Corporate finance, Equity securities, Stock market, Preferred stock, Convertible security, Stock, Common stock, Convertible bond, Dilutive security

As previously announced, the Board of Directors (the Board) of Special Opportunities Fund, Inc. (NYSE: SPE) (the Fund), in accordance with the Optional Redemption provision of the prospectus for the Funds Convertible Preferred Stock (the Convertible Preferred), has determined to redeem all shares of the Convertible Preferred that are still outstanding at 5 pm EDT on July 9, 2021 at $25 per share.

Key Points: 
  • As previously announced, the Board of Directors (the Board) of Special Opportunities Fund, Inc. (NYSE: SPE) (the Fund), in accordance with the Optional Redemption provision of the prospectus for the Funds Convertible Preferred Stock (the Convertible Preferred), has determined to redeem all shares of the Convertible Preferred that are still outstanding at 5 pm EDT on July 9, 2021 at $25 per share.
  • Holders of the Convertible Preferred may, until 5 pm EDT on July 9, 2021, convert their shares into shares of Common Stock at a ratio of 1.9558 (with cash paid in lieu of any fractional shares of common stock).
  • As of the time of this release, the market price of the Convertible Preferred is approximately $29.50 per share which is significantly higher than $25 per share.
  • Therefore, holders of the Convertible Preferred are advised to check the market price of both the Common Stock and the Convertible Preferred before determining whether and when to convert their shares into Common Stock.

Better Choice Announces Conversion of $23 Million of Outstanding Debt Into Common Equity Concurrent With Uplist to NYSE American

Retrieved on: 
Wednesday, June 30, 2021
Financial markets, Finance, Financial economics, Corporate finance, Convertible bond, New York Stock Exchange, Convertible security, Stock market, Equity securities

NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE American: BTTR) (Better Choice or the Company), an animal health and wellness company, today announced the conversion of approximately $23.0 million of convertible notes into common equity concurrent with the Companys uplist to the NYSE American.

Key Points: 
  • NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE American: BTTR) (Better Choice or the Company), an animal health and wellness company, today announced the conversion of approximately $23.0 million of convertible notes into common equity concurrent with the Companys uplist to the NYSE American.
  • Per the terms of the convertible notes, the holders will receive common shares at a conversion price equal to the public offering price of $5.00 per share, representing approximately 4.6 million common shares in aggregate.
  • Together with the board, insiders and management, approximately 39% of all common equity holders will have entered into 180-day lock-up agreements.
  • After months of preparation, I am incredibly excited to officially list on the NYSE American, which will only increase our visibility as a Company going forward.

Fortive Announces Conversion Date for Mandatory Convertible Preferred Stock

Retrieved on: 
Tuesday, June 29, 2021
Software, Technology, Other Technology, Financial markets, Financial economics, Equity securities, Finance, Corporate finance, Stock market, Danaher Corporation, Fortive, Preferred stock, Convertible security, Stock, Common stock

Fortive Corporation (Fortive) (NYSE: FTV) announced today that its 5.00% Mandatory Convertible Preferred Stock, Series A (the Preferred Stock), will automatically convert into shares of the Companys common stock on July 1, 2021 (the Conversion Date).

Key Points: 
  • Fortive Corporation (Fortive) (NYSE: FTV) announced today that its 5.00% Mandatory Convertible Preferred Stock, Series A (the Preferred Stock), will automatically convert into shares of the Companys common stock on July 1, 2021 (the Conversion Date).
  • The conversion rate for each share of Preferred Stock will be 14.0978 shares of the Companys common stock.
  • Cash will be paid in lieu of fractional shares of common stock.
  • Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets.

TUI AG: TUI upsizes its April convertible bond through launch of a tap issue

Retrieved on: 
Monday, June 28, 2021
Financial markets, Finance, Money, Corporate finance, Stock market, Financial regulation, Convertible bond, Bond, TUI Group, International Securities Identification Number, Convertible security, Par value

This announcement is an advertisement and is not a prospectus within the meaning of the Regulation (EU) 2017/1129 or otherwise.

Key Points: 
  • This announcement is an advertisement and is not a prospectus within the meaning of the Regulation (EU) 2017/1129 or otherwise.
  • The Bonds will be convertible into new and/or existing no-par value ordinary registered shares of TUI (the "Shares") and be fully fungible with the 400 million convertible bonds issued on 16 April 2021 under ISIN DE000A3E5KG2 (the "Existing Bonds").
  • TUI intends to use the proceeds from the Offering for refinancing in particular to further reduce drawings under the KfW facilities and towards a subsequent repayment of such facilities.
  • The final issue price will be determined following an accelerated bookbuilding, expected today.

KWM Proposes Significantly Improved Financing Terms for Village Inn / Bakers Square Acquisition

Retrieved on: 
Monday, June 28, 2021
Financial markets, Finance, Financial economics, Stock market, Corporate finance, Equity securities, Term sheet, Stock dilution, Preferred stock, Stock, Convertible security, Balance sheet

We are offering the company a $5M convertible preferred financing at 5% and convertible into common stock at $20/share, with few restrictive covenants.

Key Points: 
  • We are offering the company a $5M convertible preferred financing at 5% and convertible into common stock at $20/share, with few restrictive covenants.
  • We urge the board to act in the best interest of shareholders by accepting our balance sheet strengthening preferred financing that will significantly minimize previously planned dilution of common stock.
  • The following is a summary of the basic terms and conditions of a proposed convertible preferred financing.
  • This term sheet is non-binding and is intended solely as a summary of the terms that are currently proposed by the parties.

HCI Group’s 4.25% Convertible Senior Notes Due 2037 to Become Convertible July 1, 2021

Retrieved on: 
Friday, June 25, 2021
Convertible security

TAMPA, Fla., June 25, 2021 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) has announced that its 4.25% Convertible Senior Notes Due 2037 will become convertible by all Holders beginning on July 1, 2021.

Key Points: 
  • TAMPA, Fla., June 25, 2021 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) has announced that its 4.25% Convertible Senior Notes Due 2037 will become convertible by all Holders beginning on July 1, 2021.
  • As such, the Notes will become convertible beginning July 1 through September 30, 2021.
  • All Holders who wish to convert their Notes into shares of HCI common stock must provide a Notice of Conversion to HCI.
  • Upon a Holders election to convert Notes, HCI will have the option to elect a Settlement Method Physical Settlement, Cash Settlement or Combination Settlement.