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Invesque Inc. Announces Proposed Amendments to the Terms of its 8.75% Convertible Unsecured Subordinated Debentures Due September 30, 2026
Invesque Inc. Announces Proposed Amendments to the Terms of its 8.75% Convertible Unsecured Subor...
About this update from Invesque Inc
[{"type":"text","content":"\n \n \n \n Invesque Inc. Announces Proposed Amendments to the Terms of its 8.75% Convertible Unsecured Subordinated Debentures Due September 30, 2026\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 Aug. 17, 2023\n \n \n /CNW/ - Invesque Inc. (the \"\n \n Corporation\n \n \" or \"\n \n Invesque\n \n \") (TSX: IVQ) and (TSX: IVQ.U) announced today that it will seek the approval of holders (the \"\n \n 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 Debentures\n \n \") to amend the terms of the Debentures at a meeting of Debentureholders to be held on\n \n September 26, 2023\n \n (the \"\n \n Meeting\n \n \").\n \n \n Under the trust indenture dated\n \n August 24, 2018\n \n , as amended by a supplemental trust indenture dated\n \n May 23, 2023\n \n (collectively, the \"\n \n Indenture\n \n \") between the Corporation and Computershare Trust Company of\n \n Canada\n \n (the \"\n \n Debenture Trustee\n \n \") in respect of the Debentures, the Corporation is required to redeem\n \n US$22,000,000\n \n of the principal amount of Debentures outstanding, plus accrued and unpaid interest thereon, on\n \n September 30, 2023\n \n (the \"\n \n Partial Redemption\n \n \"). As previously announced by the Corporation, the Corporation is restricted under an amendment entered with its primary credit facility lender from redeeming more than\n \n US$4.828 million\n \n of the Debentures.\n \n \n The proposed amendments (the\n \n \"Debenture Amendments\"\n \n ) to the Debentures (as amended by the Debenture Amendments, the\n \n \"Amended Debentures\"\n \n ), if approved by the Debentureholders, will result in:\n \n \n \n REDUCING the amount to be redeemed by the Corporation pursuant to the Partial Redemption from a principal amount of\n \n US$22,000,000\n \n to a principal amount of\n \n US$4,828,000\n \n , plus accrued and unpaid interest thereon to, but excluding, the date of the redemption, to be payable in cash on\n \...