CLN Conversion
Aterian Plc has announced the early conversion and redemption of £20,000 of its Convertible Loan Notes, resulting in the issuance of 80,000 new ordinary shares at a conversion price of 25 pence per share. These new shares will rank pari passu with existing ordinary shares and are expected to be admitted to trading on June 11, 2026. Following this conversion, the Company's total number of ordinary shares in issue will be 19,500,000, with each share carrying one voting right.
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The Company has approved the redemption and conversion of £20,000 of the CLN, pursuant to their terms. The recent issues of CLNs have now been fully converted.
The conversion amount will be satisfied through the issue of 80,000 new ordinary shares of £0.10 each in the capital of the Company ("Ordinary Shares") at a conversion price of 25 pence per Ordinary Share (the "Conversion Shares"). The Conversion Shares will rank pari passu in all respects with the Company's existing Ordinary Shares. Application will be made for the Conversion Shares to be admitted to trading on 11 June 2026.
Total Voting Rights
Following Admission of the Conversion Shares, the Company will have 19,500,000 Ordinary Shares in issue, each carrying one voting right. The Company does not hold any Ordinary Shares in treasury.
Accordingly, the total number of voting rights in the Company will be 19,500,000. Shareholders may use this figure as the denominator for calculations by which they determine whether they are required to notify their interest in, or change to their interest in, the Company's share capital under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please visit the Company's website: www.aterianplc.com or contact:
Aterian Plc:
Charles Bray, Executive Chairman - charles.bray@aterianplc.com
Simon Rollason, Director - simon.rollason@aterianplc.com
Financial Adviser and Joint Broker:
AlbR Capital Limited
David Coffman / Dan Harris
Colin Rowbury
Joint Broker:
SP Angel Corporate Finance LLP
Ewan Leggat / Devik Mehta
Financial PR:
Bald Voodoo - ben@baldvoodoo.com
Ben Kilbey
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.