By Devika Patel
Knoxville, Tenn., Sept. 24 - NexgenRx Inc. said it will raise at least C$2 million and up to C$3 million from a non-brokered placement of convertible debentures.
The three-year debentures will have an 8% coupon. Interest will be payable quarterly.
The debentures are convertible into common shares at C$0.35 each and are redeemable at any time after one year. The redemption price will be equal to the principal amount and accrued interest outstanding at the time of redemption. Holders will be allowed to convert their notes prior to redemption if they wish.
The notes will have a four-month hold period.
Toronto-based NexgenRx is a health benefits management company.
| Issuer: | NexgenRx Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$2 million (minimum); C$3 million (maximum)
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | C$0.35
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 24
|
| Stock symbol: | TSX Venture: NXG
|
| Stock price: | C$0.25 at close Sept. 21
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
