Exro Technologies Inc. T.EXRO

exro

[Gates2000000]

SEA Electric Weighs IPO to Boost EV Power Systems

labusinessjournal.com/news/2...

[newcoin]

Excellent article. 'Canadian electric motor company Exro Technologies Inc. led the funding round, which brings SEA Electric’s total raised to date to about $75 million. The funds were earmarked for financing its backlog and facilitating more pilot programs with major truck fleet operators.'

[Skidaddle]

Plus EXRO gets some potential upside to our SEA ownership position IF SEA  does in fact do an IPO??? "As part of the agreement, Exro will invest US $5 million into SEA Electric by subscribing for 124,380 Series A Preferred Shares (the “Shares”) at a price of US $40.1995 per Share. The Shares are convertible into common shares of SEA at the option of Exro and

[beaner53]

The investment in the pref shares has already been made. The conversion to common shares will automatically kick in on the IPO. The question I have, and I have not been able to track this info down, is, how many common shares does Exro receive for each pref share held on the conversion?  In any event, would this benefit Exro? Possibly and hopefully likely, but it would depend on the number

[beaner53]

Further to the pref share scenario, I found the update to the AGM release yesterday very interesting. specifically, the creation of the new class of pref shares.  I mentioned this before but I would not be surprised if this somehow ties in to AZ.  Maybe, just maybe, we have a similar scenario to our relationship with SEA shaping up with a similar investment in Exro pref shares by....

[CoCa827]

Dam! You hit the nail. Yes! Memory fails me to what and how it works but each state has different rules as to where pension funds can invest and Preferreds are a high % - yield/dividend.

[beaner53]

What's particularly interesting to me is the new added restriction on the new class of pref shares whereby under no circumstances can the number of common shares issued on conversion exceed 50% of all issued commons.  To my mind, this would be effected in a US Sub scenario whereby Exro would always maintain control over the Sub but this does not fit with the restriction on Exro pref