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Canaccord Genuity Group Inc. Announces Completion of Redemption of 6.25% Convertible Debentures
Canaccord Genuity Group Inc. Announces Completion of Redemption of 6.25% Convertible Debe...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n Canaccord Genuity Group Inc. Announces Completion of Redemption of 6.25% Convertible Debentures\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n April 8, 2021\n \n /CNW/ - Canaccord Genuity Group Inc. (the \"\n \n Company\n \n \") (TSX: CF) today announced that it has deposited the aggregate amount of funds required to redeem the entire\n \n $132,690\n \n ,000 principal amount of its outstanding 6.25% convertible unsecured senior subordinated debentures due\n \n December 31, 2023\n \n (the \"\n \n Debentures\n \n \") with the trustee under the indenture governing the Debentures. As previously announced, the Debentures will be redeemed on\n \n April 9, 2021\n \n at a redemption amount equal to\n \n $1,266.95\n \n for each\n \n $1,000\n \n principal amount of Debentures, being equal to the aggregate of (i)\n \n $1,250\n \n per\n \n $1,000\n \n principal amount of Debentures, and (ii)\n \n $16.95\n \n of accrued and unpaid interest per\n \n $1,000\n \n principal amount up to but excluding\n \n April 9, 2021\n \n .\n \n \n With the redemption of the convertible debentures, the weighted average number of common shares used for purposes of calculating diluted earnings per share will no longer include the dilutive effect of the convertible debentures and, as such, the fully diluted share count will be reduced by approximately 13.2 million common shares.  For the three and nine month periods ended\n \n December 31, 2020\n \n the adjusted weighted average number of common shares was 123,760,056 and 122,562,938 respectively.\n \n \n Pursuant to the terms of the previously announced commitment letter entered into with investment funds and accounts managed or advised by HPS Investment Partners, LLC (\"\n \n HPS\n \n \") on\n \n March 18, 2021\n \n , the Company entered into a Credit Agreement with the lenders, Lucid Agency Services Limited as administrative agent and Lucid Trustee Services Limited as security agent (the \"\n \n Credit\n \n \n Agreement\n \n \") that provides for a GBP £69...