Business
Tiny Announces Bond Offering and Issuer Bid for Debentures
Victoria, British Columbia--(Newsfile Corp. - February 2, 2026) - Tiny Ltd. (TSX: TINY) ...
About this update from Tiny Ltd. Class A
[{"type":"text","content":"Tiny Announces Bond Offering and Issuer Bid for DebenturesVictoria, British Columbia--(Newsfile Corp. - February 2, 2026) - Tiny Ltd. (TSX: TINY) (\"Tiny\" or the \"Company\"), a Canadian technology holding company that acquires wonderful businesses for the long term, announces that: (i) it has mandated Pareto Securities AS to arrange a series of fixed income investor meetings commencing on February 2, 2026 in connection with a potential issuance of fixed rate senior secured callable bonds; and (ii) it intends to commence an issuer bid for the Company's issued and outstanding secured convertible debentures due May 12, 2030 (the \"Debentures\"). The Company has mandated Pareto Securities AS, as Global Lead Manager and Bookrunner to arrange a series of fixed income investor meetings commencing on February 2, 2026. In addition, ATB Cormark Capital Markets will serve as Joint Manager of the Bond Offering (as defined below) along with a syndicate of investment banks, including Canaccord Genuity Corp. and Roth Canada, Inc.Subject to market conditions, the Company intends to proceed with a private placement (the \"Bond Offering\") of up to US$110,000,000 of fixed rate senior secured bonds due 2031 (the \"Bonds\"). The terms of the Bonds would permit the Company to issue up to US$40,000,000 of additional bonds by way of tap issue, subject to compliance with an incurrence test. Closing of the Bond Offering would be expected to occur in Q1 2026, subject to the satisfaction of customary conditions precedent, including the repurchase of the Debentures. Upon completion of the Bond Offering, the net proceeds from the Bond Offering will be used to refinance the Company's existing debt, including the Debentures, and for general working capital purposes. The refinancing of the Company's existing debt through the Bond Offering is intended to simplify Tiny's balance sheet, lower Tiny's cost of capital, extend the Company's debt maturity profile and provide significant additional liquidity.In connection with the Bond Offering, the board of directors of the Company has authorized the Company to commence an issuer bid (the \"Offer\") to purchase for cancellation up to all of the Debentures from the holders thereof (each, a \"Debentureholder\"). Canaccord Genuity Corp. acted as financial advisor in connection with the Offer.Debentureholders ...