Defence Therapeutics Announces Convertible Debenture Conversion

Executive Summary

• Defence Therapeutics announced the full conversion of its 8% convertible debentures (issued Nov 16, 2024) into 2,607,600 common shares on the maturity date of Nov 16, 2025.
• The conversion represents a principal amount of $1,476,000 converted at $0.60 per share (2,460,000 shares) plus accrued interest of $118,080 converted at $0.80 per share (147,600 shares).
• The transaction eliminates the outstanding debenture liability and increases common equity by approximately $1.59 million.

Key Details

• Debentures Converted: 8% convertible debentures issued Nov 16, 2024.
• Principal Amount Converted: $1,476,000 → 2,460,000 shares at $0.60 per share.
• Accrued Interest Converted: $118,080 → 147,600 shares at $0.80 per share.
• Total Shares Issued on Conversion: 2,607,600 common shares.
• Aggregate Value of Conversion: $1,594,080 (principal + interest).
• Effect on Capital Structure: Full extinguishment of the debenture liability; increase in outstanding common shares and equity base.

Notable Quotes

(No direct quotes were provided in the release.)