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Eguana Technologies Announces New $1.25 Million Private Placement of Convertible Debentures Following Termination of Prior Offering
Calgary, Alberta--(Newsfile Corp. - October 7, 2025) - Eguana Technologies Inc. (TSXV: EGT) (" ...
About this update from Eguana Technologies Inc
[{"type":"text","content":"Eguana Technologies Announces New $1.25 Million Private Placement of Convertible Debentures Following Termination of Prior OfferingCalgary, Alberta--(Newsfile Corp. - October 7, 2025) - Eguana Technologies Inc. (TSXV: EGT) (\"Eguana\" or the \"Company\"), a leading provider of high-performance energy storage systems, is pleased to announce a proposed non-brokered private placement (the \"New Offering\") of up to $1,250,000 aggregate principal amount of 10% subordinated secured convertible debentures (the \"Debentures\") for an aggregate purchase price of up to $1,125,000 (representing an original issue discount equal to 10% of the purchase price), inclusive of an oversubscription option of $500,000 principal amount of Debentures for a purchase price of $450,000. Each Debenture will be priced at $900 and have a principal amount of $1,000. Each Debenture will be convertible at the option of the holder into 5,000 common shares of the Company (\"Common Shares\"), at a conversion price of $0.20 per Common Share, at any time prior to 12 months from the date of issuance of the Debentures (the \"Maturity Date\"). The conversion price represents a 10% premium to yesterday's closing price of the Common Shares.The Debentures will bear simple interest at a rate of 10% per annum payable by the Company, in cash or Common Shares, on the Maturity Date. Upon maturity, the Company may satisfy its obligation to pay the outstanding principal amount of the Debentures in Common Shares. If the Company elects to pay interest and/or principal in Common Shares, the conversion price shall be the greater of: (i) the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the \"Exchange\") for the 10 consecutive trading days immediately preceding the Maturity Date; and (ii) the Discounted Market Price (as defined in the policies of the Exchange).The Debentures will be secured against the Company's assets and will rank pari passu with all current holders of secured debentures and senior to all unsecured debentures of the Company. The Debentures will also rank second priority to all existing and any future secured obligations of the Company to certain senior lenders, including Venture Lending & Leasing IX, Inc. and WTI Fund X, Inc.The Company intends to use the proceeds of the New Offering for working capital and general co...