Quantum Blockchain Technologies PLC (AIM:QBT) has received a conversion notice from MC Strategies for its zero-coupon bond announced on 9 November 2020.
Per the notice, MC Strategies will convert €1mln of the bond into new ordinary shares of 0.25p each at a conversion price of 1p.
An 0.89p EUR/GBP exchange rate will be used per the fixed terms of the bond.
As a result, Quantum Blockchain has issued and allotted 89mln new shares in the company, with admission for trading on AIM expected to occur on or around 14 July.
Following the conversion, the face value of the remaining bond has decreased to €2.5mln.
Following admission, the company’s enlarged issued share capital will comprise 1,157,980,422 ordinary shares of 0.25 pence each.