Ventripoint Extends Convertible Debenture Offering

VentriPoint Diagnostics (TSE:VPT) has released an update.

Ventripoint Diagnostics Ltd. is extending its offering of unsecured convertible debentures, with a second closing imminent and finalization expected by July 26, 2024. The debentures, issued at $1,000 each, have a conversion rate into common shares at $0.25 and yield a 10% annual interest, payable semi-annually. An automatic conversion feature is triggered if the company’s stock price exceeds $0.50 for five consecutive days before October 20, 2026, at which point holders also receive warrants to buy additional shares at $0.70 each.

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