Navigator Equity Solutions board OKs €21.7 million rights issue of convertibles

By Jennifer Chiou

New York, May 4 - Navigator Equity Solutions NV said its board authorized an up to €21,704,364 issue of four-year convertible bonds through a rights sale.

The Eindhoven, Germany, financial services company said the issue price is €0.23 per convertible bond.

Shareholders may exercise their rights to buy convertibles at a rate of three new bonds per share for up to 94,366,800 bonds.

Navigator said the transaction is expected to occur within four weeks.

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