09:21 AM EST, 12/31/2024 (MT Newswires) -- Invesque ( MHIVF ) overnight Monday said it completed the exchange of its 7% convertible unsecured subordinated debentures due Jan. 31, and its 8.75% convertible unsecured subordinated debentures due Sept. 30, 2026.

The company said both the 2025 and 2026 debentures were exchanged for US$23.7 million of 9.75% unsecured subordinated debentures due Dec. 30, 2027 and an aggregate of 140.5 million common shares of Invesque ( MHIVF ). The amended debentures are trading on the Toronto Stock Exchange under the symbol "IVQ.NT.U".

Invesque ( MHIVF ) also added it completed the exchange of its class A convertible preferred shares, all of which were held by certain funds managed by Magnetar Financial and were exchanged for an aggregate of 716.9 million common shares

Invesque ( MHIVF ) Chief Executive Adlai Chester called the exchange "a critical step in Invesque's ( MHIVF ) evolution."

Shares of the company closed down $0.015, or 12%, to $0.11 on Monday on the Toronto Stock Exchange.