Valoe converts €148,000 convertible notes into 3.7 million shares at Winance’s request

By Taylor Fox

New York, Sept. 1 – Valoe Corp.’s board of directors approved the request to convert a combined €148,000 of convertible notes held by Winance into shares of Valoe at a conversion price of €0.04 per share, according to a news release.

The conversion will be executed by transferring 3.7 million treasury shares to Winance.

The amount of the notes includes €63,000 of convertible notes paid to Winance as a commitment fee and another €85,000 of convertible notes distributed to Winance as part of a financing arrangement.

After the transfer, Valoe will have 40,616 total treasury shares.

The conversion is the latest in an ongoing series that began in May 2019.

Valoe specializes in clean energy, especially in photovoltaic technology, and is based in Mikkeli, Finland.

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