Decibel Cannabis Company Inc. DB DBCCF, a premium cannabis producer, announced the cash repayment of its 9.5% convertible debentures, which had a maturity date of May 10, 2022. The $12 million cash repayment represents a full payout of the convertible debentures, which were subject to a conversion rate of approximately 2,222 common shares for each $1,000 of principal amount of convertible debentures, equal to a conversion price of $0.45 per common share.
The company met the pre-disbursement conditions required to draw-down $12 million under its credit facility with ConnectFirst Credit Union and concurrently made the cash repayment of the convertible debentures. The company's $12 million draw-down from its credit facility is subject to a 60-month repayment term at a fixed rate of 4.75% per annum, amortized over 144 months.
Related News
Decibel's Net Revenue Grew 75% To $52M In 2021, Six Consecutive Quarters Of Positive Adjusted EBITDA
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!