07:44 AM EDT, 10/22/2025 (MT Newswires) -- BioVaxys Technology ( BVAXF ) , which gained more than 17% Tuesday, earlier Wednesday announced the conversion of outstanding unsecured convertible debentures of the company pursuant to notices of conversion received from certain holders of the debentures.

A statement noted that, on Sept. 15, 2025, the company issued debentures for an aggregate principal amount of C$335,670 convertible into common shares in the capital of the company at any time, at the option of the holders thereof, at the closing price of the shares on the Canadian Securities Exchange (CSE) on the day notice of conversion is received by the company, subject to the pricing requirements in the policies of the CSE. The debentures bear interest at a rate of 10% per annum.

The company said that holders of certain debentures have elected to convert the entire principal amount of $160,670, together with accrued and unpaid interest thereon, resulting in an aggregate of $162,210.67 (principal and interest) payable by the company.

BioVaxys ( BVAXF ) added that, to satisfy the principal and interest, it will be issuing an aggregate of 954,179 shares at a conversion price of $0.17 per share.

All securities issued in connection with the debentures shall be subject to receipt of all necessary regulatory approvals, including acceptance of the CSE, said the company.