Company sells a four-year 10% debenture, 2,863,636 warrants via deal
By Devika Patel
Knoxville, Tenn., June 22 – NYX Gaming Group Ltd. said it will raise C$10.5 million in a private placement of an unsecured convertible debenture.
The 10% debenture will mature on Jan. 1, 2020. It may be converted into ordinary shares at C$2.75 per share.
Investors also received warrants for 2,863,636 shares. The warrants are each exercisable at C$3.50 for three years. The strike price is a 41.7% premium to the June 21 closing share price of C$2.47. The conversion price is an 11.34% premium to that price.
Settlement is expected June 30.
The digital gaming software supplier is based in Las Vegas.
| Issuer: | NYX Gaming Group Ltd.
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| Issue: | Unsecured convertible debenture
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| Amount: | C$10.5 million
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| Maturity: | Jan. 1, 2020
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| Coupon: | 10%
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| Conversion price: | C$2.75
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| Warrants: | For 2,863,636 shares
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| Warrant expiration: | Three years
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| Warrant strike price: | C$3.50
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| Pricing date: | June 22
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| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: NYX
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| Stock price: | C$2.47 at close June 21
|
| Market capitalization: | C$63.82 million
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