By Devika Patel
Knoxville, Tenn., Sept. 18 - AIM Health Group Inc. announced that it has negotiated a C$3.5 million private placement of three-year 10% convertible secured debentures.
Each debenture will be convertible into common shares at C$0.30 per share. The company can redeem the debentures at any time after one year without penalty and may force conversion if the volume-weighted average trading price of its shares is at or above C$0.40 for 20 calendar days.
Raymond James Ltd. is the agent.
Proceeds will be used to repay debt and for capital expansion.
Based in Toronto, AIM is a health care company.
| Issuer: | AIM Health Group Inc.
|
| Issue: | Convertible secured debentures
|
| Amount: | C$3.5 million
|
| Maturity: | Three years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | C$0.30
|
| Call: | After one year
|
| Warrants: | No
|
| Agent: | Raymond James Ltd.
|
| Pricing date: | Sept. 18
|
| Stock symbol: | TSX Venture: AHG
|
| Stock price: | C$0.075 at close Sept. 17
|
| Market capitalization: | C$11.6 million
|
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