AcBel Polytech to redeem first convertible bonds on Oct. 18

By Mary-Katherine Stinson

Lexington, Ky., Aug. 18 – AcBel Polytech Inc. will redeem its first unsecured convertible bonds at par on Oct. 18, according to a notice.

The deadline for applying the conversion of the debt voucher is Oct. 20.

The company announced that the notification and acceptance period of redemption for its first unsecured convertible bond is from Sept 18 to Oct. 18.

The company also noted that under the terms of the bond the company can exercise its redemption rights for its third domestic unsecured convertible bonds beginning three months after issuance, May 24, 2022, to 40 days before the expiration date, Jan. 14, 2027, when the stock closing price on the Taiwan Stock Exchange has exceeded the current conversion price by more than 30% (inclusive) for 30 consecutive business days.

The maker of electronic power supplies is based in Taipei, Taiwan.

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