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AEGIS BRANDS ANNOUNCES NOTICE TO CONVERT 11% CONVERTIBLE DEBENTURES DUE NOVEMBER 17, 2027 AND REPRICING OF STOCK OPTIONS
AEGIS BRANDS ANNOUNCES NOTICE TO CONVERT 11% CONVERTIBLE DEBENTURES DUE NOVEMBER 17, 2027 AND REP...
About this update from Aegis Brands Inc
[{"type":"text","content":"\n \n \n \n AEGIS BRANDS ANNOUNCES NOTICE TO CONVERT 11% CONVERTIBLE DEBENTURES DUE NOVEMBER 17, 2027 AND REPRICING OF STOCK OPTIONS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 23, 2022\n \n \n /CNW/ - Aegis Brands Inc. (\"\n \n Aegis\n \n \" or the \"\n \n Company\n \n \") (TSX: AEG) announces that it will convert the Company's 11.0% convertible unsecured subordinated debentures (the \"\n \n Debentures\n \n \") into common shares of the Company (\"\n \n Common\n \n \n Shares\n \n \"). The conversion of the Debentures will expand Aegis' shareholder base, will strengthen Aegis' Balance Sheet, and will better position the Company for further growth.\n \n \n Aegis has provided notice to Computershare Trust Company of\n \n Canada\n \n (the \"\n \n Trustee\n \n \") on behalf of the holders of the Debentures due\n \n November 17, 2027\n \n with a principal amount of\n \n CAD$25,045,000\n \n that Aegis has exercised its option to convert the entire principal amount of Debentures outstanding into Common Shares. The conversion price of\n \n CAD$0.485\n \n (the \"\n \n Forced Conversion\n \n \") is in accordance with the terms and conditions of the Debentures and the indenture between the Company and the Trustee entered into on\n \n November 15, 2022\n \n , as supplemented on\n \n December 22, 2022\n \n (the \"\n \n Indenture\n \n \"). The Indenture is filed under the Company's profile on SEDAR at\n \n www.SEDAR.com\n \n .\n \n \n Pursuant to the terms of the Debentures, the Company may exercise the right of Forced Conversion if the weighted average trading price of the Common Shares on the Toronto Stock Exchange for 20 consecutive trading days, ending on and including the fifth trading day before the date of the notice to convert, exceeds 125% of the conversion price of\n \n CAD$0.485\n \n .\n \n \n In connection with the Forced Conversion, the Compan...