Hybrid Power Solutions Amends Outstanding Secured Convertible Debentures
Hybrid Power Solutions (CSE: HPSS) (OTCQB: HPSIF) has amended the terms of its outstanding secured convertible debentures, totaling approximately $161,100. The key changes include:
1. Extension of maturity date by 60 days, from August 18, 2024 to October 17, 2024.
2. Reduction of conversion price from $0.32 per share to $0.14 per share.
These debentures, held by a single arm's length party, were originally purchased in August 2023. All other terms of the debentures remain unchanged. This amendment provides Hybrid with additional time to meet its financial obligations while potentially making the conversion option more attractive to the debentureholder.
Hybrid Power Solutions (CSE: HPSS) (OTCQB: HPSIF) ha modificato i termini delle sue obbligazioni convertibili garantite in circolazione, per un totale di circa $161.100. Le modifiche principali includono:
1. Estensione della data di scadenza di 60 giorni, dal 18 agosto 2024 al 17 ottobre 2024.
2. Riduzione del prezzo di conversione da $0,32 per azione a $0,14 per azione.
Queste obbligazioni, detenute da una singola parte indipendente, sono state acquistate originariamente nell'agosto 2023. Tutti gli altri termini delle obbligazioni rimangono invariati. Questa modifica fornisce a Hybrid ulteriore tempo per adempiere ai propri obblighi finanziari, rendendo nel contempo l'opzione di conversione potenzialmente più attraente per il titolare delle obbligazioni.
Hybrid Power Solutions (CSE: HPSS) (OTCQB: HPSIF) ha modificado los términos de sus debentures convertibles asegurados en circulación, por un total de aproximadamente $161,100. Los cambios clave incluyen:
1. Prórroga de la fecha de vencimiento por 60 días, del 18 de agosto de 2024 al 17 de octubre de 2024.
2. Reducción del precio de conversión de $0.32 por acción a $0.14 por acción.
Estos debentures, poseídos por una única parte independiente, fueron comprados originalmente en agosto de 2023. Todos los demás términos de los debentures permanecen sin cambios. Esta enmienda proporciona a Hybrid tiempo adicional para cumplir con sus obligaciones financieras, al tiempo que potencialmente hace que la opción de conversión sea más atractiva para el tenedor de los debentures.
하이브리드 파워 솔루션즈 (CSE: HPSS) (OTCQB: HPSIF)는 약 $161,100의 유출성 보장 전환 사채 조건을 수정했습니다. 주요 변경 사항은 다음과 같습니다:
1. 만기일 연장: 2024년 8월 18일에서 2024년 10월 17일로 60일 연장.
2. 전환 가격 인하: 주당 $0.32에서 $0.14로 하향 조정.
이 사채들은 독립적인 단일 당사자가 보유하고 있으며, 원래 2023년 8월에 구매되었습니다. 사채의 다른 조건에는 변동이 없습니다. 이번 수정은 하이브리드가 재정 의무를 이행할 수 있는 추가 시간을 제공하며, 동시에 사채 보유자에게 전환 옵션을 더욱 매력적으로 만들 수 있습니다.
Hybrid Power Solutions (CSE: HPSS) (OTCQB: HPSIF) a modifié les conditions de ses obligations convertibles garanties en circulation, totalisant environ 161 100 $. Les principales modifications comprennent :
1. Prolongation de la date d'échéance de 60 jours, du 18 août 2024 au 17 octobre 2024.
2. Réduction du prix de conversion de 0,32 $ par action à 0,14 $ par action.
Ces obligations, détenues par une seule partie indépendante, ont été initialement achetées en août 2023. Tous les autres termes des obligations restent inchangés. Cet amendement donne à Hybrid plus de temps pour satisfaire ses obligations financières, tout en rendant potentiellement l'option de conversion plus attrayante pour le détenteur des obligations.
Hybrid Power Solutions (CSE: HPSS) (OTCQB: HPSIF) hat die Bedingungen seiner ausstehenden gesicherten wandelbaren Anleihen, die insgesamt etwa 161.100 USD betragen, geändert. Die wichtigsten Änderungen umfassen:
1. Verlängerung des Fälligkeitsdatums um 60 Tage, von 18. August 2024 auf 17. Oktober 2024.
2. Reduzierung des Umwandlungspreises von 0,32 USD pro Aktie auf 0,14 USD pro Aktie.
Diese Anleihen, die von einer einzigen unabhängigen Partei gehalten werden, wurden ursprünglich im August 2023 erworben. Alle anderen Bedingungen der Anleihen bleiben unverändert. Diese Änderung gibt Hybrid zusätzliche Zeit, um seinen finanziellen Verpflichtungen nachzukommen, während sie gleichzeitig die Umwandlungsoption für den Inhaber der Anleihen potenziell attraktiver macht.
- Extension of maturity date by 60 days, providing more time for the company to meet its financial obligations
- Reduction of conversion price from $0.32 to $0.14 per share, potentially making the conversion option more attractive to the debentureholder
- Reduction in conversion price may lead to increased dilution if the debentures are converted to shares
- The need to amend debenture terms may indicate financial challenges or cash flow issues
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) ("Hybrid" or the "Company") announces that it has amended the terms of its outstanding secured convertible debentures representing a principal amount of approximately
For further information, inquiries, or media opportunities, please contact:
On behalf of the Company:
Francois Byrne
CEO and Director
invest@hybridps.ca
1 (866) 549-2743
www.investhps.com
About Hybrid Power Solutions Inc.
Hybrid Power Solutions Inc. is a Canadian clean energy innovator listed on the Canadian Securities Exchange under the symbol "HPSS". The company specializes in developing sustainable energy solutions that redefine power access and storage across industries. With a focus on innovation and environmental responsibility, Hybrid continues to lead the charge in providing scalable, cost-effective power solutions for a greener future.
The Canadian Securities Exchange does not accept 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/220365
FAQ
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