Brief: Electrovaya announces proposed private placement of convertible debentures

Electrovaya

15/03/2017 20:00

March 15 (Reuters) - Electrovaya Inc  EFL.TO  
    * Electrovaya announces proposed private placement of 
convertible debentures 
    * Electrovaya Inc says to complete a non-brokered private 
placement of convertible unsecured subordinated debentures for 
gross proceeds of up to $25 million 
    * Electrovaya Inc - debentures will have a term to maturity 
of 36 months and bear interest at a rate of 9 pct per annum, 
payable semi-annually 
    * Electrovaya Inc - net proceeds of sale of debentures will 
be used for working capital to fulfill purchase orders, and for 
general corporate purposes 
 
Source text for Eikon:  ID:nCCN2bX26L  
Further company coverage:  EFL.TO  
 
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