EXRO PROVIDES UPDATE ON SEMI-ANNUAL INTEREST PAYMENTS ON OUTSTANDING CONVERTIBLE DEBENTURES
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its decision to settle semi-annual interest payments on its outstanding convertible debentures through the issuance of common shares. The company will issue 6,407,141 common shares at a deemed price of $0.14 per share to settle the C$897,000 interest payment due on its C$15,000,000 secured convertible debentures. The debentures, issued on December 30, 2022, carry a 12% annual interest rate with semi-annual payments. Currently, there are 14,950 debenture units outstanding. The share issuance is subject to regulatory approvals, including Toronto Stock Exchange approval.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) ha annunciato la sua decisione di saldare i pagamenti degli interessi semestrali sui suoi debentures convertibili in circolazione tramite l'emissione di azioni ordinarie. La società emetterà 6.407.141 azioni ordinarie a un prezzo presunto di $0,14 per azione per saldare il pagamento degli interessi di C$897.000 dovuto sui suoi debentures convertibili garantiti da C$15.000.000. I debentures, emessi il 30 dicembre 2022, portano un tasso d'interesse annuale del 12% con pagamenti semestrali. Attualmente, ci sono 14.950 unità di debenture in circolazione. L'emissione delle azioni è soggetta ad approvazioni regolatorie, inclusa l'approvazione della Borsa di Toronto.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) ha anunciado su decisión de liquidar los pagos de intereses semestrales sobre sus bonos convertibles pendientes mediante la emisión de acciones ordinarias. La empresa emitirá 6.407.141 acciones ordinarias a un precio considerado de $0.14 por acción para saldar el pago de intereses de C$897.000 que debe sobre sus bonos convertibles garantizados de C$15.000.000. Los bonos, emitidos el 30 de diciembre de 2022, tienen una tasa de interés anual del 12% con pagos semestrales. Actualmente, hay 14.950 unidades de bonos en circulación. La emisión de acciones está sujeta a aprobaciones regulatorias, incluida la aprobación de la Bolsa de Valores de Toronto.
Exro Technologies (TSX: EXRO, OTCQB: EXROF)는 현재 발행 중인 전환사채의 반기 이자 지급을 보통주 발행을 통해 해결하기로 결정했다고 발표했습니다. 회사는 6,407,141주의 보통주를 주당 $0.14의 가정된 가격으로 발행하여 C$15,000,000의 담보 전환사채에 대한 C$897,000의 이자 지급을 해결할 것입니다. 이 전환사채는 2022년 12월 30일에 발행되었으며, 연 12%의 이자율로 반기 지급이 이루어집니다. 현재 14,950개의 채권 단위가 유통되고 있습니다. 주식 발행은 토론토 증권 거래소 승인을 포함하여 규제 승인을 받아야 합니다.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) a annoncé sa décision de régler les paiements d'intérêts semestriels sur ses débentures convertibles en circulation par l'émission d'actions ordinaires. La société émettra 6.407.141 actions ordinaires à un prix estimé de 0,14 $ par action pour régler le paiement d'intérêts de C$897.000 dû sur ses débentures convertibles sécurisées de C$15.000.000. Les débentures, émises le 30 décembre 2022, portent un taux d'intérêt annuel de 12% avec des paiements semestriels. Actuellement, il y a 14.950 unités de débentures en circulation. L'émission d'actions est soumise à des approbations réglementaires, y compris l'approbation de la Bourse de Toronto.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) hat bekannt gegeben, dass sie beschlossen hat, die halbjährlichen Zinszahlungen auf ihre ausstehenden wandelbaren Anleihen durch die Ausgabe von Stammaktien zu begleichen. Das Unternehmen wird 6.407.141 Stammaktien zu einem angenommenen Preis von $0,14 pro Aktie ausgeben, um die fällige Zinszahlung von C$897.000 auf seine C$15.000.000 gesicherten wandelbaren Anleihen zu begleichen. Die Anleihen wurden am 30. Dezember 2022 ausgegeben und haben einen jährlichen Zinssatz von 12% mit halbjährlichen Zahlungen. Derzeit gibt es 14.950 Anleiheneinheiten im Umlauf. Die Aktienausgabe unterliegt den regulatorischen Genehmigungen, einschließlich der Genehmigung der Toronto Stock Exchange.
- Interest payment settlement through share issuance preserves cash reserves
- Company maintains ability to service debt obligations
- Share issuance of 6,407,141 shares results in dilution for existing shareholders
- High interest rate of 12% indicates significant debt servicing costs
Pursuant to the terms of the
The issuance of the Common Shares as payment for interest owing on the Debentures is subject to the terms and conditions of the Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the Toronto Stock Exchange.
About Exro Technologies Inc.
Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
For more information, please visit www.exro.com.
To view our Investor Presentation, visit us at www.exro.com/investors.
Follow us on social media @Exrotech.
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SOURCE Exro Technologies Inc.
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