Sabio Holdings Proposes Innovative Shares-for-Debt Plan
Sabio Holdings Announces Proposed Shares-for-Debt Transaction
Sabio Holdings (TSXV: SBIO) has unveiled a groundbreaking proposal involving a shares-for-debt transaction. This initiative aims to issue a total of 162,477 common shares at a deemed price of CAD 0.517 each. The shares will be utilized to settle approximately CAD 84,000 in interest due on secured convertible notes. These notes were initially linked to a non-brokered private placement finalized on a previous date.
Details of the Shares-for-Debt Transaction
The secured notes, totaling CAD 1,200,000 in principal amount, come with a 14% interest rate, which can be paid in cash or shares at the discretion of Sabio. The calculated deemed price per share takes into account the 20-day volume weighted average price ending three business days prior to the interest due date.
Regulatory Review and Approval
This transaction is contingent upon the necessary review and approval from the TSX Venture Exchange. Any shares issued upon completion of this transaction will be subject to a four-month and one-day hold period, complying with applicable securities laws.
About Sabio Holdings
Sabio Holdings is a leader in the rapidly expanding ad-supported streaming sector. Its state-of-the-art cloud-based technology platform collaborates with prominent global brands and the agencies representing them to effectively reach and engage audiences over streaming channels.
Innovative Technology and Services
Sabio offers a proprietary ad-serving technology that forms strategic partnerships with top ad-supported streaming platforms. They also provide App Science™, a cookie-free SaaS analytics platform with advanced AI capabilities, enabling valuable insights into audience engagement. In addition, the Creator Television® network enhances brand storytelling by combining the best of social media with traditional TV narratives.
Contact and Additional Information
For further inquiries, interested parties can reach out to Sajid Premji, Chief Financial Officer, via email at investor@sabio.inc or by phone at 1.844.974.2662. Sam Wang from Investor Relations is also available at the same email address for further assistance.
Frequently Asked Questions
What is the purpose of the shares-for-debt transaction?
The transaction aims to issue shares to settle interest on secured convertible notes, improving the company's financial position.
How many shares are involved in the transaction?
A total of 162,477 common shares are proposed for issuance at a deemed price of CAD 0.517 each.
What is the interest rate on the secured notes?
The secured notes bear an interest rate of 14% per annum, payable in cash or shares.
Who can I contact for more information about Sabio Holdings?
For inquiries, contact Sajid Premji or Sam Wang at investor@sabio.inc or call 1.844.974.2662.
What is Sabio Holdings' primary business focus?
Sabio focuses on providing advertising technology and services in the growing ad-supported streaming market, aiding brands in engaging and validating streaming audiences.
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