Maritime Launch Services Announces Full Conversion of Convertible Debentures
Follows $10 Million Equity Financing
Maritime Launch Services is issuing 208,844,288 common shares upon conversion of all its outstanding convertible debentures due December 7, 2026. The $10,427,287 aggregate principal plus accrued interest on the convertible debentures will all be converted in accordance with the debenture terms into common shares at a price of $0.05 per common share. This conversion was triggered by a $10 million equity investment at $0.223 per share.
All Maritime Launch convertible debentures are fully retired as of November 12, 2025.
Following these conversions, Maritime Launch will have issued and outstanding 749,955,801 common shares.
In addition to the issued and outstanding common shares, Maritime Launch has previously issued and outstanding warrants (8,899,085) to acquire common shares at exercise prices ranging from $0.05 to $0.167 and stock options (35,391,655) to acquire common shares at exercise prices ranging from $0.05 to $0.167. Each outstanding warrant and option is exercisable for a single common share.
The Canadian-owned commercial space company based in Nova Scotia is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations from a single site. Spaceport Nova Scotia will allow launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada’s first commercial orbital launch complex.