Valoe to convert more convertible notes into shares for Winance

By Rebecca Melvin

New York, Aug. 5 – Valoe Corp. is converting another €20,000 portion of its convertible notes into shares of the company at a conversion price of €0.13 per share, according to a news release on Monday.

The company had converted a €10,000 portion of the notes at the same rate last week, according to a Friday news release, and the conversion follows similar conversions in May, June and July.

The conversion of the notes is being made at the request of Winance, which entered into a financing arrangement with Valoe on Dec. 20, 2018.

Under the latest conversion, Valoe will transfer 153,846 treasury shares to Winance. After the transfer, Valoe will have 1,239,071 treasury shares in total.

Based in Mikkeli, Finland, Valoe specializes in clean energy, especially in photovoltaic technology.

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