Business
Canaccord Genuity Group Inc. Announces Redemption of 6.25% Convertible Debentures and Director Resignation
Canaccord Genuity Group Inc. Announces Redemption of 6.25% Convertible Debentures and Dir...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n Canaccord Genuity Group Inc. Announces Redemption of 6.25% Convertible Debentures and Director Resignation\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.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n March 18, 2021\n \n /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX: CF) today announced its intention to redeem the entire\n \n $132,690,000\n \n principal amount of its 6.25% convertible unsecured senior subordinated debentures due\n \n December 31, 2023\n \n (the \"Debentures\") on the following terms:\n \n \n \n \n \n \n \n Redemption Date\n \n \n \n \n \n \n April 9, 2021\n \n \n \n \n \n \n \n \n Redemption Price\n \n \n \n \n \n \n $1,250 per $1,000 principal amount\n \n \n \n \n \n \n \n \n Accrued and Unpaid Interest\n \n \n \n \n \n \n $16.95 per $1,000 principal amount\n \n \n \n \n \n \n \n \n Redemption Price plus Accrued and Unpaid Interest\n \n \n \n \n \n \n $1,266.95 per $1,000 principal amount\n \n \n \n \n \n \n \n As previously announced, the Company entered into a first supplemental indenture to the indenture governing the Debentures to provide:\n \n \n \n The Company with the right to redeem (the \"Amended Redemption Right\"), at its option and from time to time, between\n \n April 1, 2021\n \n and\n \n October 31, 2021\n \n , any or all of the outstanding Debentures, for consideration of (for each\n \n $1,000\n \n principal amount of Debentures held) cash equal to (i) the greater of (A) 125% of the principal amount, being\n \n $1,250\n \n , and (B) the sum of * the amount calculated by multiplying 100 by the volume weighted average price of the common shares of the Company (\"Common Shares\") for the 20 trading day period ending two trading days prior to the date upon which the Company issues a press release announcing its inte...