Receipts convert to units of a five-year 9% debenture and 70 warrants
By Devika Patel
Knoxville, Tenn., June 26 – NYX Gaming Group Ltd. said it hopes to raise C$9.7 million in a private placement of subscription receipts on Thursday.
The company is selling 25,000 receipts at C$1,000.00 apiece. The receipts are convertible into units, with each unit consisting of a C$1,000.00 five-year 9% senior secured debenture and 70 warrants.
The warrants are each exercisable at C$5.00 for three years. The strike price is a 7.07% premium to the June 24 closing share price of C$4.67.
The company also plans C$95.1 million public sales of the debenture subscription receipts and equity subscription receipts.
The digital gaming software supplier is based in Las Vegas.
| Issuer: | NYX Gaming Group Ltd.
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| Issue: | Subscription receipts convertible into units of a C$1,000.00 senior secured debenture and 70 warrants
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| Amount: | C$25 million
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| Receipts: | 25,000
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| Price: | C$1,000.00
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| Maturity: | June 30, 2020
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| Coupon: | 9%
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| Warrants: | 70 warrants per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$5.00
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| Settlement date: | June 25
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| Stock symbol: | TSX Venture: NYX
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| Stock price: | C$4.67 at close June 24
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| Market capitalization: | C$116.75 million
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