Tecnotree issues new shares following convertible debenture conversion
Tecnotree Corporation has approved the subscription of 16,566 new shares following the conversion of a compulsory convertible debenture issued in 2023.
The Board of Directors of Tecnotree Corporation has resolved to accept the subscription of 16,566 new shares following the receipt of a conversion notice. The issuance stems from a compulsory convertible debenture (CCD) originally issued on June 22, 2023.
The lender exercised the conversion rights attached to the debenture to acquire the new equity. These shares are being issued under the terms established in the 2023 financing agreement.
This conversion represents a standard execution of the company's previously defined debt-to-equity restructuring terms. The newly issued shares will be registered with the trade register, adjusting the company's total outstanding share count.