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Invesque Inc. Announces Additional Voting Support and Proposes Further Enhancements to the Terms of the Proposed Debenture Amendments for its 5.00% 2016 Convertible Debentures Due January 31, 2022
Invesque Inc. Announces Additional Voting Support and Proposes Further Enhancements to th...
About this update from Invesque Inc
[{"type":"text","content":"\n \n \n \n Invesque Inc. Announces Additional Voting Support and Proposes Further Enhancements to the Terms of the Proposed Debenture Amendments for its 5.00% 2016 Convertible Debentures Due January 31, 2022\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 Nov. 5, 2021\n \n /CNW/ - Invesque Inc. (the \"\n \n Corporation\n \n \" or \"\n \n Invesque\n \n \") (TSX: IVQ) (TSX: IVQ.U) announced today that, following feedback and discussions with certain Debentureholders (defined below), it has proposed further enhanced terms to the previously announced amendments (together with the previously announced amendments, the \"\n \n Revised Enhancements\n \n \") to the 5.00% 2016 Convertible Debentures due\n \n January 31, 2022\n \n (TSX:IVQ.DB.U) (the \"\n \n Debentures\n \n \"). The Revised Enhancements are to be considered at the meeting (the \"\n \n Meeting\n \n \") of the holders of Debentures (the \"\n \n Debentureholders\n \n \"), which was adjourned to\n \n November 15, 2021\n \n at\n \n 10:00 a.m. (Eastern Time)\n \n . The deadline for submitting proxies is\n \n November 12, 2021\n \n at\n \n 10:00 a.m. (Eastern Time)\n \n .\n \n \n Based upon feedback from Debentureholders, the Board of Directors of Invesque (the\n \n \"Board\"\n \n ) determined to\n \n further\n \n enhance the terms of the proposal. Accordingly, the proposed Revised Enhancements to the Debentures (as amended by the Revised Enhancements, the \"\n \n Amended Debentures\n \n \"), to be considered for approval at the Meeting are:\n \n \n \n INCREASING the underlying interest rate from 5.00% to 7.00%, effective\n \n January 31, 2022\n \n . Previously, Invesque had proposed increasing the interest rate to  6.25%;\n \n \n DECREASING the conversion price from\n \n US$11.00\n \n to\n \n US$5.00\n \n per share of Invesque. Previously, Invesque had proposed decreasing the conversion price to\n \n US$6.00\n \n per share;\n \n \n EXTENDING the maturity date from\n \n January 31, 2022\n \n to\n \n January 31, 2025\n \n ; and\n \n \n RE...