By Adriano Marchese
Baylin Technologies Inc. said Friday that its chairman and major shareholder has converted 8.7 million Canadian dollars ($7 million) worth of extendible convertible unsecured debentures into shares, increasing his stake in the company.
The Canadian diversified wireless technology management company said that Chairman Jeffrey Royer, through the entity 2385796 Ontario Inc., received 7.8 million shares for the conversion, representing about 15% of the company's outstanding common shares.
Following the conversion, Mr. Royer controls 29.4 million shares, representing about 49% of the company's outstanding common shares.
Write to Adriano Marchese at adriano.marchese@wsj.com
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June 18, 2021 at 08:23PM
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Baylin Technologies Chairman Increases Stake in Company - MarketWatch
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