Quantum Blockchain receives bond conversion notice

Quantum Blockchain Technologies announced on Friday that it has received a conversion notice from MC Strategies pertaining to its zero-coupon bond.

The AIM-traded firm said the bond, which it originally announced on 9 November 2020, allows MC Strategies to convert €1m of the bond into new shares in Quantum Blockchain at a conversion price of 1p apiece.

It said the notice from MC Strategies signalled its intent to convert €1m of the bond, resulting in the issue of new shares to the company.

“As a result, the company has issued and allotted 89,000,000 new shares,” the Quantum Blockchain board said in its statement.

“Following the conversion, the face value of the remaining bond has decreased to €2,493,575.”

At 1258 BST, shares in Quantum Blockchain Technologies were down 4.85% at 1.45p.

Reporting by Josh White for Sharecast.com.