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Source: Quarterhill Inc.
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  • Quarterhill (QTRH) has entered into a $50 million bought-deal financing of convertible unsecured subordinated debentures
  • The debentures will have a coupon of 6.0 per cent per annum, and a conversion price of $3.80 per Quarterhill common share
  • The underwriters, led by Raymond James Ltd., have been granted an over-allotment option to purchase up to an additional $7.5 million of debentures
  • The net proceeds will be used to fund potential acquisitions and to provide additional working capital
  • Quarterhill is focused on the acquisition, management, and growth of companies in the intelligent transportation systems (ITS) and innovation and licensing industries
  • Quarterhill Inc. (QTRH) is down 1.05 per cent, trading at C$2.82 per share at 4:15 pm ET

Quarterhill (QTRH) has entered into a $50 million bought-deal financing of convertible unsecured subordinated debentures.

The debentures will have a coupon of 6.0 per cent per annum, and a conversion price of $3.80 per Quarterhill common share.

The underwriters, led by Raymond James Ltd., have been granted an over-allotment option to purchase up to an additional $7.5 million of debentures any time up to the 30th day following the closing of the financing. The debentures will mature on October 30, 2026.

The net proceeds will be used to fund potential acquisitions and to provide additional working capital.

The offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange, and is expected to close on or about October 27, 2021.

The debentures may be offered by way of a private placement in the United States.

Quarterhill is focused on the acquisition, management, and growth of companies in the intelligent transportation systems (ITS) and innovation and licensing industries.

Quarterhill Inc. (QTRH) is down 1.05 per cent, trading at C$2.82 per share at 4:15 pm ET.

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