representative work

Cassels Represents Paradigm Capital in Spectral Medical’s $6.1 Million Bought Deal Convertible Note Financing


On September 7, 2023, Spectral Medical Inc. closed a bought deal private placement of approximately C$6.1 million of convertible senior notes.

The notes have a face value of US$1,000 per note, bear interest at 9% and are due on November 1, 2026. Holders of the notes may convert all or any portion of the notes in integral multiples of US$1,000 principal amount at a conversion price of approximately C$0.40 per share at any time prior to the maturity date of the notes.

The offering was conducted by Paradigm Capital Inc. as sole underwriter.

Cassels acted for Paradigm.

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