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Valoe to convert more convertible notes held by Winance
By Marisa Thompson
Los Angeles, Aug. 7 – Valoe Corp. is converting a €54,000 portion of its convertible notes into shares of the company at a conversion price of €0.12 per share, according to a news release on Wednesday.
The conversions of the notes are being made at the request of Winance, which entered into a financing arrangement with Valoe on Dec. 20, 2018.
Valoe made similar conversions in May, June and July.
Under the latest conversion, Valoe will transfer 450,000 treasury shares to Winance. After the transfer, Valoe will have 378,815 treasury shares in total.
Valoe also announced on Wednesday that it will pay interest and penalties equal to €24,000 in convertible bonds.
Based in Mikkeli, Finland, Valoe specializes in clean energy, especially in photovoltaic technology.
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