Final Bell Holdings updates rights offering details on September 10, 2024
- Final Bell Holdings International Ltd. has arranged to settle up to US$875,000 in outstanding debts through its Rights Offering.
- A significant shareholder can settle a working capital loan of up to US$500,000, while a director-controlled company can settle a bridge loan of up to US$375,000.
- The Rights Offering deadline is September 10, 2024, and no preferential terms will be provided to creditors.
On September 10, 2024, Final Bell Holdings International Ltd. announced updates regarding its ongoing Rights Offering. The company has made arrangements to settle outstanding debts totaling up to US$875,000 through the exercise of share purchase rights. A significant shareholder and creditor will have the option to settle a working capital loan of up to US$500,000, while a company controlled by a director can settle up to US$375,000 of a bridge loan related to ongoing legal challenges. The Rights Offering is crucial for the company as it navigates financial difficulties, particularly in relation to the Companies’ Creditors Arrangement Act (Canada) application by BZAM Ltd. The company has clarified that no discounts or preferential terms will be offered to creditors participating in the Rights Offering, ensuring that all terms remain consistent for all participants. The deadline for the Rights Offering is set for 5:00 p.m. Toronto time on the same day, September 10, 2024. Interested parties can find complete details in the Rights Offering Notice and Circular available on the company’s profile at www.sedarplus.ca. This move is part of the company's broader strategy to stabilize its financial position and address its outstanding obligations. Final Bell Holdings is actively working to manage its debts while maintaining transparency with its shareholders and creditors. The decisions made during this period will be critical for the company's future operations and financial health, as it seeks to overcome current challenges and emerge stronger.