- Sixth Wave Innovations (SIXW) has issued 377,655 common shares to holders of its unsecured convertible debentures
- The company has chosen to pay the full amount of interest due to each debenture holder in common shares
- The shares issued will be subject to a four-month hold period
- Sixth Wave is a nanotechnology company with patented technologies
- Sixth Wave Innovations Inc. was up 10.00 per cent, trading at $0.055 at 13:15 ET
Sixth Wave Innovations (SIXW) has issued common shares to holders of its unsecured convertible debentures.
As per the terms of the debentures, the company can choose to pay interest in cash at an annual rate of 7.5 per cent or pay interest in common shares of the company at an annual rate of 10 per cent.
In respect of the interest payment due on June 30, 2022, the company has chosen to pay the full amount of interest due to each debenture holder in common shares. The company issued a total of 377,655 common shares to the debenture holders.
The shares will be subject to a four-month hold period.
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs).
Sixth Wave Innovations Inc. was up 10.00 per cent, trading at $0.055 at 13:15 ET.