Baylin Announces New Conversion Price for its Convertible Debentures
TORONTO, May 20, 2021 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company") announced today that, following approval by holders of its $17,250,000 principal amount of 6.5% Extendible Convertible Unsecured Debentures (the "Convertible Debentures") on April 8, 2021 and by holders of its common shares at the annual and special meeting of shareholders on May 11, 2021, the new conversion price of the Convertible Debentures has been set at $1.11 per common share (the "New Conversion Price"). The New Conversion Price was determined based on the volume-weighted average trading price of the common shares of the Company on the Toronto Stock Exchange for the five consecutive trading days ending on May 19, 2021. The New Conversion Price will remain in effect from May 20 until June 18, 2021, after which it will revert to the original conversion price of $3.85.
Holders of Convertible Debentures who wish to convert their Convertible Debentures at the New Conversion Price should contact their broker.
ABOUT BAYLIN
Baylin is a leading diversified global wireless technology company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio-frequency products, terrestrial microwave products, and services. Baylin aspires to exceed its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.
SOURCE Baylin Technologies Inc.
Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]
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