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Enablence Technologies Closes Recapitalization Transaction; Provides Other Corporate Updates
Enablence Technologies Closes Recapitalization Transaction; Provides Other Corporate Upda...
About this update from Enablence Technologies Inc.
[{"type":"text","content":"\n \n \n \n Enablence Technologies Closes Recapitalization Transaction; Provides Other Corporate Updates\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 Launches\n \n C$1.5 Million\n \n Private Placement of Common Shares at\n \n C$1.80\n \n Per Share\n \n \n \n \n \n \n Adopts Omnibus Equity Incentive Plan and Awards\n \n \n \n \n \n OTTAWA, ON\n \n ,\n \n Dec. 7, 2021\n \n /CNW/ - Enablence Technologies Inc. (\"\n \n Enablence\n \n \" or the \"\n \n Company\n \n \") (TSXV: ENA), a supplier of optical components and subsystems, is pleased to announce the closing of its previously-announced shares-for-debt transactions (the \"\n \n Shares-for-Debt Settlements\n \n \"), pursuant to which approximately\n \n C$43.6 million\n \n of the total unsecured debt of the Company has been settled for securities of Enablence as more particularly described below, thereby completing its previously-announced recapitalization transaction (the \"\n \n Recapitalization Transaction\n \n \").\n \n \n \n Craig Mode\n \n , Co-CEO and CFO of Enablence, commented: \"The closing of the Shares-for-Debt transactions completes the Recapitalization Transaction that we announced in\n \n August 2021\n \n . We are incredibly appreciative of the support of our creditors and shareholders during this process and believe our strengthened balance sheet should give investors' confidence with regards to the long-term viability of our business. The\n \n $1.5 million\n \n in new capital that we expect to raise through this private placement will also provide us with a base to reinitiate growth efforts and allow us to better serve our growing customer base.\"\n \n \n \n \n Closing of Recapitalization Transaction\n \n \n \n \n The Company completed its Recapitalization Transaction following the closing of the Shares-for-Debt Settlements with certain unsecured creditors holding an aggregate of\n \n C$43.6 million\n \n of the total unsecured debt of the Company. In settlement of such debt, an aggregate of 12,545,857 common shares of the C...