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    SEV   CA84761T8692

SPECTRA7 MICROSYSTEMS INC.

(SEV)
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Delayed Bourse de Toronto  -  05/20 03:45:34 pm EDT
1.140 CAD   +1.79%
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Spectra7 Announces Completion of Debenture Amendments

12/13/2021 | 07:03pm EDT

SAN JOSE, Calif., Dec. 13, 2021 /CNW/ -- (TSXV:SEV) (OTCQB:SPVNF) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, announces that the Company has entered into a second supplemental convertible debenture indenture (the "Supplemental Indenture") on December 9, 2021 to bring into effect the previously announced amendments to the Company's existing 7% unsecured convertible debentures (the "Debentures"). The Supplemental Indenture amends the conversion price of the principal amount of the Debentures from $5.00 per common share to $2.50 per common share during the period from January 9, 2022 to July 9, 2022 (the "Amendment").

The Debentures are currently convertible at a price of $2.50 per common share until January 8, 2022. As a result of the Amendment, the conversion price will remain at the current price of $2.50 per common share until maturity. The interest rate and other features of the Debentures are not being amended.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, mixed reality, data centers and other connectivity markets. Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China. For more information, please visit www.spectra7.com. 

Neither the TSXV nor its regulation services provided (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Matt Kreps/Jim Fanucchi
Darrow Associates
214-597-8200
ir@spectra7.com

Spectra7 Microsystems Inc.
Bonnie Tomei
Chief Financial Officer
669-212-1089
ir@spectra7.com

Spectra7 Microsystems Inc.
John Mitchell
Public Relations
650-269-3043
pr@spectra7.com

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View original content to download multimedia:https://www.prnewswire.com/news-releases/spectra7-announces-completion-of-debenture-amendments-301443609.html

SOURCE Spectra7 Microsystems Inc.

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 29,8 M 29,9 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees 40
Free-Float 87,2%
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Managers and Directors
Raouf Y. Halim President, Chief Executive Officer & Director
Bonnie Tomei Chief Financial Officer
Ronald J. Pasek Chairman
Andrew Kim Chief Technology Officer & VP-Engineering
Roger John Maggs Independent Director
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