Equinox Gold Has Issued 24,761,905 Shares To Ninety Fourth Investment Company, An Affiliate Of MDC Industry On The Conversion Of $130M Convertible Note Held By MDC
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Equinox Gold has issued 24,761,905 shares to Ninety Fourth Investment Company, an affiliate of MDC Industry, as a result of the conversion of a $130 million convertible note held by MDC.
October 03, 2024 | 10:14 am
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Equinox Gold issued 24,761,905 shares to an MDC affiliate due to the conversion of a $130M convertible note. This equity action could dilute existing shares, potentially impacting stock price.
The issuance of new shares as a result of the conversion of a convertible note typically leads to dilution of existing shares, which can negatively impact the stock price in the short term. The conversion of a $130M note into 24,761,905 shares is a significant equity action for Equinox Gold.
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