IntelGenx extends maturity of C$7.6 million 8% convertibles to 2022

By Rebecca Melvin

New York, June 25 – IntelGenx Technologies Corp. said holders have approved an extension of the maturity date of C$7,577,000 principal amount of 8% convertible unsecured subordinated debentures to June 30, 2022, according to a company news release.

The convertibles were originally due June 30, 2020.

Due to the amendment, the conversion price will be reduced to C$0.50 from C$1.35. The changes are expected to become effective on June 30.

As a result of the extension, the company’s previously announced intention to repay the principal on the debentures in common shares on June 30 is no longer required and will not occur.

The notes continue to be listed on the TSX Venture Exchange under the symbol IGX.DB, but they will no longer trade or be quoted on an accrued interest basis.

IntelGenx is a Saint Laurent, Quebec-based drug delivery company focused on the development and manufacturing of pharmaceutical films.

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