Mullen Group Ltd. Announces the Early Redemption of its 5.75% Convertible Unsecured Subordinated Debentures

Executive Summary

• Mullen Group Ltd. announced it will fully redeem its 5.75% convertible unsecured subordinated debentures (principal $125 million) on December 1, 2025.
• The redemption price is 100% of principal plus accrued interest up to the redemption date; payment will be made in cash.
• Conversion rights remain available until November 21, 2025, after which all outstanding debentures will cease to accrue interest.

Key Details

• Debenture Information: 5.75% convertible unsecured subordinated debentures due November 30, 2026; aggregate principal $125.0 million; listed on TSX as “MTL.DB”.
• Redemption Date: December 1, 2025 (full redemption).
• Redemption Price: 100.0% of outstanding principal plus accrued and unpaid interest up to, but excluding, the redemption date.
• Payment Method: Cash payment by Mullen Group; no exchange or transfer required from the trustee in the five business days preceding the redemption date.
• Conversion Deadline: Holders may convert debentures into common shares until 5:00 pm MST on November 21, 2025.
• Interest Termination: Interest payments cease as of the redemption date.
• Holder Instructions: Debentureholders are advised to review redemption instructions with their financial institutions to ensure timely submission for conversion requests; no action required for cash redemption.

Notable Quotes

(No executive quotes were included in the release.)