Enerdynamic Hybrid plans up to C$20 million debentures via Kingsdale

By Susanna Moon

Chicago, June 11 – Enerdynamic Hybrid Technologies Corp. said it plans to syndicate up to C$20 million of debentures financing needed for the milestone payments.

The debentures will have a two-year term with an 18% coupon and be issued with up to 400 bonus common shares for each C$1,000 principal amount of debentures, according to a company press release.

The debentures can be called at any time, subject to a minimum interest payment of six months.

Kingsdale Capital is the lead agent.

Proceeds also will be used to fund potential accretive acquisition opportunities that are currently in the due diligence phase.

The company said it has entered into an amending agreement with Reliant First Nation LP to extend some milestone payments required under the original purchase and sale agreement.

Based in Toronto, Enerdynamic offers commercial energy solutions that reduce the energy costs of large businesses.

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