Corporate ActionAug 10, 2026, 04:01 PM
Nuran Wireless Grants Registration Rights for Convertible Shares
AI Summary
Nuran Wireless Inc. has entered into a Registration Rights Agreement dated July 31, 2026, with a holder, granting registration rights for Common Shares issuable upon conversion of Series A Convertible Preferred Shares and exercise of B Warrants. The company is obligated to file a registration statement within 45 days and ensure its effectiveness within 90 days of the closing date. Failure to meet these deadlines or maintain effectiveness will result in liquidated damages of 0.5% of the aggregate subscription amount monthly, up to a maximum of 5%. The Series A Convertible Preferred Shares have specific conversion terms and a Default PUC Premium in case of an Event of Default.
Key Highlights
- Nuran Wireless entered a Registration Rights Agreement dated July 31, 2026.
- Agreement grants rights for Common Shares from Series A Convertible Preferred Shares and B Warrants.
- Company must file a registration statement within 45 days and achieve effectiveness within 90 days.
- Liquidated damages of 0.5% monthly (max 5%) apply for failure to meet deadlines or maintain effectiveness.
- Series A Convertible Preferred Shares have a conversion price of C$5.00, reducing to C$4.25 or floating price.
- A 50% Default PUC Premium on Subscription Price applies to Series A shares upon an Event of Default.
Price Impact
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