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Be the first with the news that moves the market- Emergia (EMER) has announced a conversion of its convertible debentures
- A debenture holder exercised the conversion, initially issued on October 29, 2021, for a total amount of $425,000, at a price of $0.85 per unit, for a total of 500,000 units
- In addition, the corporation executed an agreement where it converted $296,000 in debt into shares issued at $0.70 per share, representing 424,000 shares
- Emergia operates mainly in Canada in the development, acquisition and management of multi-purpose real estate
- Emergia (EMER) closed down by 2.86 per cent trading at $0.68 per share
Emergia (EMER) has announced a conversion of its convertible debentures.
A debenture holder exercised the conversion, initially issued on October 29, 2021, for a total amount of $425,000, at a price of $0.85 per unit, for a total of 500,000 units.
The debentures were bearing interest at 8 per cent annually, accruing in arrears, payable semi-annually in cash or in Class A common shares.
Each unit is made up of one share and two warrants.
Each warrant entitles the holder to purchase one share at a price of $1.25 until October 31, 2023, while the other warrant entitles the holder to purchase one share at a price of $1.50 until October 31, 2024.
In addition, the corporation executed an agreement where it converted $296,000 in debt into shares issued at $0.70 per share, representing 424,000 shares.
“The fact that investors chose to be paid in Emergia shares, driven by the discount on the stock price in the market compared to its net asset value, which was at $1.68 in the corporation’s Q3-2022 financial statements, show, again, the trust in Emergia’s business model,” said Henri Petit, President and CEO of Emergia.
Emergia operates mainly in Canada in the development, acquisition and management of multi-purpose real estate.
Emergia (EMER) closed down by 2.86 per cent trading at $0.68 per share.
