ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

DRT DIRTT Environmental Solutions Ltd

0.58
-0.02 (-3.33%)
08 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
DIRTT Environmental Solutions Ltd TSX:DRT Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.02 -3.33% 0.58 0.58 0.59 0.58 0.57 0.58 9,079 20:32:55

DIRTT Announces Conversion of Its Remaining 14% Senior Subordinated Convertible Notes

09/07/2014 4:12pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN 


DIRTT Environmental Solutions Ltd. ("DIRTT" or the "Company") (TSX:DRT) is
pleased to announce it is has converted US$5,047,634.46 principal amount of its
14% senior subordinated convertible notes ("Notes"), including accrued interest,
held by Kayne Anderson Mezzanine Partners QP, L.P., Kayne Anderson Mezzanine
Partners L.P. and KAMPO US, LP, into an aggregate of 2,380,006 common shares
("Shares"). The Notes were converted into Shares at a conversion rate of 472
Shares per US$1,000 principal amount of Notes. As a result of the conversion, no
Notes remain outstanding. 


"The conversion of the remaining piece of the convertible notes held by Kayne
strengthens our balance sheet, reduces interest expense and is a further
positive step in our post IPO capital strategy," says DIRTT CEO Mogens Smed,
commenting on the conversion. "The Kayne notes were an important piece of our
pre-IPO capital structure and our current momentum has afforded us the ability
to convert these notes to common shares."


ABOUT DIRTT 

DIRTT Environmental Solutions (Doing It Right This Time) uses its proprietary 3D
software to design, manufacture and install fully customized prefab interiors.
DIRTT customers in the corporate, government, education and healthcare sectors
benefit from the Company's precise design and costing; rapid lead times with the
highest levels of customization and flexibility; and faster, cleaner
construction. 


To find out more about DIRTT (TSX:DRT) please visit our website www.dirtt.net or
contact us at ir@dirtt.net.


FOR FURTHER INFORMATION PLEASE CONTACT: 
DIRTT Environmental Solutions
Scott Jenkins
President
403.723.5009
sjenkins@dirtt.net


DIRTT Environmental Solutions
Derek Payne
CFO
403.313.9879
dpayne@dirtt.net
www.dirtt.net

1 Year DIRTT Environmental Solu... Chart

1 Year DIRTT Environmental Solu... Chart

1 Month DIRTT Environmental Solu... Chart

1 Month DIRTT Environmental Solu... Chart

Your Recent History

Delayed Upgrade Clock