By Abigail W. Adams
Portland, Me., Nov. 29 – Vejii Holdings Ltd. priced C$5 million of two-year convertible debentures at par with a coupon of 12% and an initial conversion price of C$0.50, according to a company news release.
Research Capital Corp. is the bookrunner for the brokered private placement, which will be placed on a best-efforts basis with accredited investors in certain provinces in Canada.
The offering carries a greenshoe of C$750,000.
The notes are callable if the company’s stock trades at C$0.70 per share or greater for a period of 10 consecutive trading days.
Proceeds will be used to support merger and acquisition activity and for general corporate purposes.
Vejii Holdings is a Kelowna, B.C.-based e-commerce platform for vendors of plant-based and sustainable living products.
| Issuer: | Vejii Holdings Inc.
|
| Amount: | C$5 million
|
| Greenshoe: | C$750,000
|
| Securities: | Unsecured convertible debentures
|
| Maturity: | Two years
|
| Bookrunner: | Research Capital Corp.
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.50
|
| Call options: | Callable if share price is above C$0.70 for 10 consecutive days
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 23
|
| Distribution: | Brokered private placement
|
| Stock symbol: | CSE: VEJI
|
| Stock price: | C$0.20
|
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