Yesterday, Sixth Wave Innovations Inc (OTCMKTS:SIXWF) had come into focus among investors after it announced that it had issued common shares in the company to those who held Unsecured Convertible Debentures. It was a significant development from the company and the news was welcomed with considerable enthusiasm by investors.
Trading Data
On Wednesday, SIXWF stock gained 4.40% to $0.1690 with 5.2k shares, compared to its average volume of 58K shares. The stock has moved within a range of $0.1650 – 0.1733 after opening trade at $0.1650.
Sixth Wave Issues Shares for Interest
As a consequence, the stock went up by as much as 4% yesterday. In this situation, it may be a good move from investors to actually take a look at the actual terms of the Unsecured Convertible Debentures that had been sold by Sixth Wave.
The terms state that Sixth Wave could either pay an interest at the rate of 7.5% in cash or alternatively, the company could pay the interest in shares. The difference being the company would have to pay 10% interest in case of the second option.
The issuance of the shares to pay the interest to the holders was for the period that ended on December 31, 2021. At this point in time, it may be a good idea to add the stock to your watch lists and keep an eye on the price action in the stock.
