Pallinghurst Converts C$15M Convertible Bond into 21% Stake in Nouveau Monde Graphite
October 18, 2021
Pallinghurst Graphite International Limited converted the full C$15 million convertible bond into common shares of Nouveau Monde Graphite, receiving shares in two tranches and related interest shares, resulting in an approximate 21% ownership stake. The conversion releases the related security, settles accrued interest with share issuance, and provides Nouveau Monde increased financing flexibility as it advances its battery anode material project in Québec.
- Buyers
- Pallinghurst Graphite International Limited
- Targets
- Nouveau Monde Graphite Inc.
- Industry
- Manufacturing
- Location
- Quebec, Canada
- Transaction Type
- Recapitalization
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