Stem Holdings Completes Warrant And Debenture Repricing

Stem Holdings, Inc. STMH STEM has received the approval of the holders of the warrants and the holders of the convertible debentures to reprice the convertible securities issued in connection with the company’s special warrant financing, which matured on June 27, 2022 and will mature September 14, 2022.

Share purchase warrants of the company will be issued in connection with this repricing at 167 common share warrants for each $1,000 debenture unit held priced at CA$0.20 ($0.15) per common share and the convertible debentures of the company issued in connection with the financing will be repriced to CA$0.10 per common share.

Additionally, the debenture holders have approved the following amendments to the terms of the convertible debentures:

  • An extension to the maturity date of the convertible debentures for three years.

  • An amendment to permit the company to force the conversion of the principal amount of the then-outstanding convertible debentures and any accrued and unpaid interest thereof at the new conversion price on not less than 30 days prior written notice if the closing trading price of the shares of common stock of Stem exceeds CA$0.80 for a period of ten consecutive trading days on the CSE,

  • This debenture amendment, provides for the payment of 5% of the principal amount.

The debenture amendments have been approved by the CSE.

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