Hampton Financial Secures $500,000 in Convertible Debenture Deal
Hampton Financial Secures Funding Through Convertible Debentures
Hampton Financial Corporation (TSXV: HFC) recently announced the successful closing of their private placement, raising $500,000 through unsecured convertible debentures. This innovative move reflects the company’s dedication to enhancing its financial structure to support future growth.
Details of the Convertible Debentures
The newly issued debentures will see a maturity period of five years and one day from the issuance date. They are set to carry an attractive interest rate of 11.0% per annum. Payments are scheduled quarterly, aligning with the end of March, June, September, and December. The first payment is anticipated at the end of the first quarter following the closure of the deal.
Conversion Feature and Benefits
Holders of these debentures will have the opportunity to convert their investment into common shares of the company’s subsidiary, Oxygen Working Capital Corp. (OWC), at a conversion price of CAD$0.50 per share, providing a strategic incentive for investors.
Strategic Use of Proceeds
The proceeds from this financial initiative will be allocated to OWC, reinforcing its lending capabilities. The infusion of capital is poised to bolster OWC’s loan portfolio, ultimately serving working capital needs and supporting operational activities.
About Oxygen Working Capital Corp.
Established in 2017, OWC plays a pivotal role in the commercial factoring sector across Canada. They specialize in providing immediate financial solutions for businesses by converting invoices into cash, thus fulfilling urgent working capital requirements. The acquisition of OWC in 2024 aligns with Hampton’s strategic goals for diversification and growth.
Hampton Financial Corporation: A Closer Look
Distinctively positioned as a private equity firm, Hampton Financial Corporation aims to build shareholder value by making long-term investments. Beyond OWC, the company manages Hampton Securities Limited (HSL), which is involved in a range of financial services including wealth management and capital markets operations.
Commitment to Capital Market Activities
HSL operates as a regulated investment dealer with a broad base of activities covering investment banking and advisory services. This includes guiding companies in raising capital, merging, and listing on securities exchanges. Hampton is actively seeking opportunities to diversify its revenue streams through strategic investments.
Contact Information
For further details or inquiries, please contact:
Olga Juravlev
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701
Or
Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
(416) 862-8651
Frequently Asked Questions
What is the total amount raised in the private placement?
Hampton Financial Corporation has successfully raised a total of $500,000 through this private placement.
What is the interest rate on the debentures?
The debentures carry a competitive interest rate of 11.0% per annum, which is paid quarterly.
What is the duration till maturity for the debentures?
The debentures will mature five years and one day after the issuance date.
Who can convert the debentures?
Holders of the debentures have the right to convert them into shares of Oxygen Working Capital Corp. (OWC) at any time before the maturity date.
How will the raised funds be utilized?
The proceeds will be used to enhance the loan book of OWC and support its working capital needs.
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