Business
Acceleware Announces Closing of Shares for Debt Transaction and First Tranche of Issuance of Replacement Debentures
Calgary, Alberta--(Newsfile Corp. - April 10, 2026) - Acceleware® Ltd. (TSXV: AXE) ...
About this update from Acceleware Ltd.
[{"type":"text","content":"Acceleware Announces Closing of Shares for Debt Transaction and First Tranche of Issuance of Replacement DebenturesCalgary, Alberta--(Newsfile Corp. - April 10, 2026) - Acceleware® Ltd. (TSXV: AXE) (\"Acceleware\" or the \"Company\") is pleased to announce that it has closed the Shares for Debt Transaction (as defined below) and the first issuance of the Replacement Debentures (as defined below), both in connection with its previously announced debenture restructuring of the outstanding debt owed to the 10% unsecured convertible debenture holders (the \"2022 Debentures\") in the aggregate amount of $2,453,640, which amount represents the total principal outstanding plus accrued and unpaid interest (the \"Debenture Restructuring\"). It is anticipated that an additional tranche of the issuance of the Replacement Debentures will be closed in due course. Details of Debenture RestructuringIn connection with the proposed Debenture Restructuring, the Company provided existing holders the option to convert all outstanding amounts including principal and accrued and unpaid interest attributable to their 2022 Debentures into:units of the Company (the \"Units\"), through a shares-for-debt transaction, at a price of $0.10 per Unit (the \"Shares for Debt Transaction\");new convertible debentures (\"Replacement Debentures\") on substantially the same terms, subject to amendments to the Conversion Price as detailed below; ora combination of Replacement Debentures and Units.The Shares for Debt Transaction closed on April 7, 2026 and Acceleware issued a total of 12,688,589 Units under the Shares for Debt Transaction. Each Unit issued under the Shares for Debt Transaction consists of (i) one (1) common share in the capital of the Company (a \"Common Share\"); and (ii) one (1) Common Share purchase warrant of the Company (a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at $0.20 for a period of two (2) years from the date of issuance of the Warrant. In the event that the Common Shares trade at a closing price at or greater than $0.30 per Common Share for a period of thirty (30) consecutive trading days, Acceleware may accelerate the expiry date of the Warrants by giving notice to the holders thereof, and in such case, the Warrants will expire on the 30th day after the date on which such notice is ...