Q: Could you kindly summarize this NR in layman terms.
https://www.zentek.com/news/zentek-announces-closing-of-2-000-000-non-brokered-private-placement-of-debenture-units/
Thank you
https://www.zentek.com/news/zentek-announces-closing-of-2-000-000-non-brokered-private-placement-of-debenture-units/
Thank you
5i Research Answer:
ZEN has sold $2M worth of debentures in the company. Each debenture is priced at $1,000, and pays 5% interest, but the interest is payable only at maturity. Debentures can be converted into shares at $2.20 per share. Maturity is April 9, 2028. If the stock does well and rises above the conversion price, the company can call the redemptions and force holders to convert into shares.