DelphX Announces the Issuance of Shares for Services
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) announced it will issue 138,888 common shares to a consultant as payment for services related to securing a non-binding letter of intent with hedge funds for up to $3 billion of notional credit spread protection through their CRS program. The shares will be issued at $0.18 per share, totaling C$25,000. Following the issuance, which requires TSX Venture Exchange approval, DelphX will have 181,812,350 common shares outstanding. The shares will be issued as restricted securities under U.S. Securities Act exemptions.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) ha annunciato che emetterà 138.888 azioni ordinarie a un consulente come pagamento per servizi relativi alla sicurezza di una lettera di intenti non vincolante con fondi speculativi per un massimo di 3 miliardi di dollari di protezione del credito tramite il loro programma CRS. Le azioni saranno emesse a 0,18 $ per azione, per un totale di 25.000 C$. Dopo l'emissione, che richiede l'approvazione del TSX Venture Exchange, DelphX avrà 181.812.350 azioni ordinarie in circolazione. Le azioni saranno emesse come titoli ristretti ai sensi delle esenzioni della Legge sui titoli degli Stati Uniti.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) anunció que emitirá 138,888 acciones ordinarias a un consultor como pago por servicios relacionados con la obtención de una carta de intención no vinculante con fondos de cobertura por hasta 3 mil millones de dólares en protección de diferencia de crédito a través de su programa CRS. Las acciones se emitirán a 0.18 $ por acción, totalizando 25,000 C$. Tras la emisión, que requiere la aprobación del TSX Venture Exchange, DelphX tendrá 181,812,350 acciones ordinarias en circulación. Las acciones se emitirán como valores restringidos bajo las exenciones de la Ley de Valores de EE. UU.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF)는 헤지 펀드와의 비구속적인 의향서 확보와 관련된 서비스에 대해 컨설턴트에게 138,888주를 지급할 것이라고 발표했습니다. 이는 최대 30억 달러의 신용 스프레드 보호를 위해 CRS 프로그램을 통해 이루어집니다. 주식은 주당 0.18 $에 발행되며, 총액은 25,000 캐나다 달러입니다. TSX 벤처 거래소의 승인이 필요한 이번 발행 이후, DelphX는 181,812,350주의 보통주가 유통될 예정입니다. 이 주식은 미국 증권법 면제에 따른 제한된 증권으로 발행됩니다.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) a annoncé qu'elle émettra 138 888 actions ordinaires en paiement à un consultant pour des services liés à l'obtention d'une lettre d'intention non contraignante avec des fonds spéculatifs pour un montant allant jusqu'à 3 milliards de dollars de protection de l'écart de crédit nominal dans le cadre de leur programme CRS. Les actions seront émises à 0,18 $ par action, totalisant 25 000 CAD. Suite à l'émission, qui nécessite l'approbation de la Bourse de croissance TSX, DelphX aura 181 812 350 actions ordinaires en circulation. Les actions seront émises en tant que titres restreints en vertu des exemptions de la Loi sur les valeurs mobilières des États-Unis.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) hat angekündigt, dass es 138.888 Stammaktien an einen Berater ausgeben wird, als Zahlung für Dienstleistungen im Zusammenhang mit der Sicherung eines nicht verbindlichen Absichtsschreibens mit Hedgefonds zur Erhöhung von bis zu 3 Milliarden Dollar an nominalen Kreditspread-Schutz über ihr CRS-Programm. Die Aktien werden zu einem Preis von 0,18 $ pro Aktie ausgegeben, was insgesamt 25.000 CAD entspricht. Nach der Emission, die die Genehmigung der TSX-Venture-Börse erfordert, wird DelphX 181.812.350 ausgegebene Stammaktien haben. Die Aktien werden als eingeschränkte Wertpapiere gemäß den Ausnahmen des US-Wertpapiergesetzes ausgegeben.
- Secured non-binding LOI with hedge funds for potential $3 billion in credit spread protection business
- Company maintains cash by paying for services with shares instead of cash
- Share issuance will cause dilution to existing shareholders
- LOI is non-binding, indicating uncertainty in deal completion
Toronto, Ontario--(Newsfile Corp. - November 20, 2024) - DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) ("DelphX" or the "Company"), a leader in the development of new classes of structured products for the fixed income market, announces that pursuant to an agreement with a consultant for services in connection with the conclusion of a non-binding letter of intent with multiple hedge fund counterparties for the offering of up to
The Common Shares will be issued at a deemed price of
The issuance of Common Shares will not result in a new control person, and subsequent to the issuance, DelphX will have 181,812,350 common shares outstanding.
About DelphX Capital Markets Inc.
DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle Quantem LLC, the Company enables fixed income dealers to offer new private placement securities that provide mitigation of spread and capital charge losses when downgrades occur, while allowing for attractive returns. The new DelphX securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in:
- Collateralized put options (CPOs) that provide secured rating downgrade protection for underlying corporate bonds;
- Collateralized reference notes (CRNs) that enable investors to take on a capped rating downgrade exposure of an underlying security in exchange for attractive returns.
All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets.
For more information about DelphX, please visit www.delphx.com.
George Wentworth, General Manager
DelphX Capital Markets Inc.
george.wentworth@delphx.com
(718) 509-2160
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230710
FAQ
How many shares will DelphX (DPXCF) issue for consultant services in November 2024?
What is the value of the potential credit spread protection deal announced by DelphX (DPXCF)?
What will be DelphX's (DPXCF) total outstanding shares after the new issuance?
