Katipult Technology Revamps Convertible Debentures

Katipult Technology (TSE:FUND) has released an update.

Katipult Technology Corp. has revised the terms of its convertible debentures, extending the maturity date to 2027, lowering the base interest rate to 4%, and reducing the conversion price to $0.20 per share. These amendments are secured against the corporation’s assets and include an interest grace period until November 2024. They are deemed a related party transaction but are exempt from certain minority approval requirements.

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