Comment on financingBit of a disappointment that the halt was just due to a convertible sale.
This strongly suggests that a 2nd platform acquisition is coming soon. And the numbers must be pretty big because I'm sure Quarterhill management would have preferred to just do it solely with more bank financing--avoiding all dilution. Probably the bank insisted on Quarterhill taking on some junior (to the bank) debt in order to get the bank participating further.
I guess I'm pleased that they were able to do a conversion price so high as $3.80. In return for that high conversion price the company had to accept a 6% interest rate.
The fact that this was done right now suggests that we shouldn't hold our breath for an Apple settlement. Obviously an Apple settlement at reasonable terms would have been desirable to Quarterhill management because it would have allowed them to move forward on the next acquisition without bothering with term sheets and so forth. Or dilution.
This should increase volumes on the common stock as it will open the door for arbitrage between the shares and the convertible debentures.