PROTECH HOME MEDICAL ANNOUNCES REDEMPTION OF 7.5% NON-CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Cincinnati, Ohio – March 26, 2019 – Protech Home Medical Corp. (“Protech” or the “Company”) (TSXV: PTQ), a healthcare services company with operations in the U.S., today announced that it is issuing a notice of redemption to holders of its 7.5% non-convertible unsecured subordinated debentures due December 31, 2019 (the “Debentures”), representing a redemption in full of all of the currently outstanding Debentures. The Debentures will be redeemed on April 30, 2019 (the “Redemption Date”), in accordance with their terms. The Debentures will be redeemed at a total redemption price of $1,040.00 plus accrued and unpaid interest of $24.79166667 up to but excluding the Redemption Date, both per $1,000 principal amount. As at the close of trading on March 25, 2019, the aggregate principal amount of the Debentures outstanding was $8,625,000.
It is expected that the TSX Venture Exchange will halt trading on the Debentures (TSXV: PTQ.DB) at the opening of business on the Redemption Date and delist such Debentures at the close of business on the Redemption Date. Interest on the Debentures will cease to accrue on and after the Redemption Date.
The Company recently completed a $15 million bought deal offering, a portion of the proceeds from which will be used to redeem the Debentures on the Redemption Date.