CellCube Energy offers C$10 million 9% three-year convertibles

By Abigail W. Adams

Portland, Me., March 28 – CellCube Energy Storage Systems Inc. plans to price up to C$10 million of three-year convertible debentures with a coupon of 9% and a conversion price of C$0.30, the company said in a press release.

The deal will carry a greenshoe of C$5 million.

The company may force the conversion of the debentures if the trading price of stock is greater than C$0.60 for 21 consecutive trading days, according to the news release.

CellCube is a Toronto-based energy storage systems company.

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