XS Financial Amends Unsecured Convertible Notes, Extends Maturity Date
Portfolio Pulse from Vuk Zdinjak
XS Financial Inc. has amended its unsecured convertible notes worth $43.5 million, extending the maturity date to either December 31, 2024 or June 30, 2024, depending on certain conditions. The amendments also include changes to the conversion price, interest rate, and removal of a debt-to-net-worth ratio restriction.

June 12, 2023 | 2:28 pm
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XS Financial's amendment of its unsecured convertible notes and extension of the maturity date may provide the company with more financial flexibility.
The amendment of the unsecured convertible notes and extension of the maturity date provides XS Financial with more time to secure additional financing and potentially reduce the cost of capital. The changes to the conversion price, interest rate, and removal of the debt-to-net-worth ratio restriction may also make the notes more attractive to investors, potentially leading to a positive short-term impact on the stock price.
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