iAnthus holders convert $30.85 million debentures prior to redemption

By Sarah Lizee

Olympia, Wash., April 29 – iAnthus Capital Holdings, Inc. completed the redemption of $32.26 million convertible debentures of wholly owned subsidiary MPX Luxembourg Sarl on April 24, according to a press release.

The convertible debentures were redeemable for $860.43 per $1,000 principal amount.

Prior to the redemption date, holders of $30,854,439.60 of the debentures elected to convert their debentures into units of iAnthus, with each unit consisting of 0.1673 of one common share in the capital of iAnthus and 0.08365 of one common share purchase warrant, based on the exchange ratio of 0.1673 iAnthus share for each common share of MPX Bioceutical Corp. in connection with iAnthus' recently completed acquisition of MPX, at a conversion price equal to C$0.74 per unit.

Accordingly, iAnthus issued 8,929,457 iAnthus shares and 4,464,724 iAnthus warrants to holders electing to convert their debentures prior to the redemption date.

The remaining debentures, with an original subscription amount of $1.25 million were not redeemed or converted as the company is unable to confirm valid payment for them.

iAnthus is an operator of cannabis cultivation, processing and dispensary facilities throughout the United States. It is based in New York and Toronto.

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