Spectra7 Microsystems Inc (SEV)

[FutureGNR]

Wow! .50 a share! Someone wants in on these debentures for a huge premium

As at the end of October, 2020, MM Asset, on behalf of MMCAP, exercised control and direction over: (a) aggregate principal amount of $8,980,000 of 7% senior unsecured convertible debentures (“Debentures”) maturing on January 9, 2021 (the “Maturity Date”), each Debenture is convertible at the option of the holder into Shares prior to the Maturity Date at a conversion price of $0.35 per Share; and (b) 13,509,000 common share purchase warrants (“Warrants”), each Warrant is exercisable for one Share at a price of $0.50 per Share prior to January 9, 2021, representing approximately 6.19% of the Issuer’s 593,191,207 outstanding Shares as reported by the Issuer in its Management’s Discussion & Analysis dated August 28,2020 and press release dated September 25, 2020, calculated on a partially diluted basis.