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Invesque Inc. Announces Approval of Amendments to its Convertible Unsecured Subordinated Debentures and Approval of the Exchange of Preferred Shares for Common Shares
Invesque Inc. Announces Approval of Amendments to its Convertible Unsecured Subordinated Debentur...
About this update from Invesque Inc
[{"type":"text","content":"\n\n\n\n Invesque Inc. Announces Approval of Amendments to its Convertible Unsecured Subordinated Debentures and Approval of the Exchange of Preferred Shares for Common Shares\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\n TORONTO\n \n\n ,\n \n\n Nov. 26, 2024\n \n\n /CNW/ - Invesque Inc. (the \"\n \n Corporation\n \n \" or \"\n \n Invesque\n \n \") (TSX: IVQ) and (TSX: IVQ.U) is pleased to announce that holders (the \"\n \n 2025 Debentureholders\n \n \") of its 7.00% Convertible Unsecured Subordinated Debentures due\n \n January 31, 2025\n \n (TSX:IVQ.DB.U) (the \"\n \n 2025 Debentures\n \n \") and holders (the \"\n \n 2026 Debentureholders\n \n \") of its 8.75% Convertible Unsecured Subordinated Debentures due\n \n September 30, 2026\n \n (TSX:IVQ.DB.V) (the \"\n \n 2026 Debentures\n \n \" and together with the 2025 Debentures, the \"\n \n Debentures\n \n \") passed extraordinary resolutions approving certain amendments to the Debentures (the \"\n \n Amendments\n \n \").\n \n\n The Amendments provide that:\n \n\n\n in exchange for the 2025 Debentures, the 2025 Debentureholders will receive on a date to be determined by the board of directors of the Corporation (the \"\n \n Board\n \n \") on or before\n \n January 31, 2025\n \n , a pro rata interest of (i) an aggregate principal amount of\n \n US$9,938,000\n \n in new unsecured subordinated debentures (\"\n \n Amended Debentures\n \n \") and (ii) 52,306,874 common shares of the Corporation (\"\n \n Common Shares\n \n \"); and\n \n\n in exchange for the 2026 Debentures, the 2026 Debentureholders will receive, on a date to be determined by the Board on or before\n \n January 31, 2025\n \n , a pro rata interest of (i) an aggregate principal amount of\n \n US$17,362,000\n \n in Amended Debentures and (ii) 88,210,068 Common Shares (collectively, the \"\n \n Debenture Exchange\n \n \").\n \n\n\n The Amendments to the 2025 Debentures were overwhelmingly approved by approximately 71.14% of the principal amount of the 2025 Debentures by written consent. At a meeting of the 2026 Debentur...