Examples of 2018 Debentures in a sentence
The 2018 Debentures are convertible at the option of the Corporation if, on or before the five-year maturity date, in any two consecutive calendar quarters the Corporation shall have achieved all of the following criteria: a.
Comparable decreases in each of the share price and discount rate would result in a comparable opposite change in the fair value of the outstanding principal of the 2018 Debentures.
The shares awarded under the share award scheme are acquired from open market.
Among other things, that agreement provided for the withholding and escrow of $5,722,222.22 from the 2018 Debenture proceeds to pay one year’s interest on the 2018 Debentures in the event of an iAnthus default.
The 2018 Debentures are convertible at the holder’s option at any time prior to the close of business on the earlier of the business day immediately preceding the maturity date and the date specified by AGI for redemption of the 2018 Debentures into fully paid and non-assessable common shares of the Company at a conversion price of $88.15 per common share, being a conversion rate of approximately 11.3443 common shares for each $1,000 principal amount of the 2018 Debentures.
On May 14, 2018, the Company issued a press release announcing that it had closed a $40 million secured debenture financing and concurrent $10 million equity financing with GGP, the 2018 Debentures.
On January 3, 2018, the Company closed the offering of $75 million aggregate principal amount of the 2018 Debentures.
The 2018 Debentures bear interest at 4.50% per annum, payable semi-annually in arrears on June 30 and December 31 each year commencing June 30, 2018.
AGI also granted the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following closing, to purchase up to an additional $11.25 million aggregate principal amount of 2018 Debentures.
The 2018 Debentures were classified as a debenture with a fair value derivative liability component.