Canaccord conversion threshold not met for series A preferred shares

Chicago, Sept. 16 – Canaccord Genuity Group Inc. announced that there will be no conversions of its series A cumulative five-year rate reset first preferred shares into series B preferred shares after taking into account all election notices received by the Sept. 15 conversion deadline, according to a press release.

The company received 135,145 series A preferred shares tendered for conversion, less than the 1 million needed to proceed with the conversion into series B preferreds.

There are 4.54 million of the series A preferreds listed on the Toronto Stock Exchange under the symbol “CFPrA.”

The independent financial services company is based in Toronto.

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