AMES, Iowa–(BUSINESS WIRE)–Renewable Vitality Group, Inc. (“REG”) (NASDAQ: REGI) introduced immediately that it’s going to redeem all of its excellent 4.00% Convertible Senior Notes due 2036 (CUSIP No. 75972A AC7) (the “Notes”) on June 15, 2021 (the “Redemption Date”) at a redemption worth (the “Redemption Worth”) equal to 100% of the principal quantity of the Notes redeemed. As a result of the Redemption Date is the curiosity cost date referring to the common file date of June 1, 2021, the holder of a Be aware as of 5:00 p.m., New York Metropolis time, on June 1, 2021 shall be entitled, however the redemption of the Notes, to obtain, on the Redemption Date, the unpaid curiosity that will have accrued on such Be aware to, however excluding, the Redemption Date and, accordingly, the Redemption Worth to be paid to the redeeming holder of a Be aware is not going to embrace accrued and unpaid curiosity on such Be aware to, however excluding, the Redemption Date. As of April 11, 2021, there was roughly $31.Four million combination principal quantity of the Notes excellent.
The Notes could also be transformed at any time earlier than 5:00 p.m., New York Metropolis time, on June 11, 2021, which is the second enterprise day instantly earlier than the Redemption Date, in accordance with and topic to the phrases of the Indenture governing the Notes, dated as of June 2, 2016 (the “Indenture”) and the Notes. REG has decided that Notes surrendered for conversion shall be settled in money as much as the principal quantity of the Notes surrendered for conversion and shares of REG widespread inventory for the rest of the conversion obligation, if any, in extra of the principal quantity (offered that REG pays money in lieu of issuing fractional shares) in accordance with the phrases of the Indenture. The Notes are presently convertible at a conversion price of 92.8074 shares of REG widespread inventory per $1,000 principal quantity of Notes.
Except REG defaults in making cost of the Redemption Worth, curiosity on the Notes will stop to accrue from and after the Redemption Date and thereafter the one remaining proper of a holder of Notes would be the proper to obtain cost of the Redemption Worth upon give up of Notes to the Paying Agent. Notes referred to as for redemption should be surrendered to the Paying Agent by means of the services of The Depository Belief Firm to gather the Redemption Worth.
Wilmington Belief, Nationwide Affiliation, as Trustee for the Notes, is sending a Discover of Full Redemption to all registered holders.
This press launch is for informational functions solely and doesn’t represent a discover of redemption of the Notes or a suggestion to promote or the solicitation of a suggestion to purchase securities in any jurisdiction.
About Renewable Vitality Group
Renewable Vitality Group, Inc. (NASDAQ: REGI) is main the vitality trade’s transition to sustainability by remodeling renewable sources into high-quality, cleaner fuels. REG is a world producer of cleaner fuels and North America’s largest producer of biodiesel. REG options are alternate options for petroleum diesel and produce considerably decrease carbon emissions. REG makes use of an built-in procurement, distribution and logistics community to function 12 biorefineries within the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner gas delivering 4.2 million metric tons of carbon discount. REG is assembly the rising world demand for lower-carbon fuels and main the best way to a extra sustainable future.
Protected Harbor Assertion
This press launch accommodates forward-looking statements inside the that means of the Personal Securities Litigation Reform Act of 1995, together with statements referring to redemption of the Notes and conversion of the Notes. These forward-looking statements are primarily based on present expectations and assumptions, are topic to alter, and precise outcomes might differ materially. Elements that would trigger precise outcomes to vary materially embrace these referring to difficulties, delays or surprising prices associated to, or REG’s incapability to consummate, the redemption of the Notes and different dangers described in REG’s annual report on Kind 10-Ok for the 12 months ended December 31, 2020 and once in a while within the REG’s different periodic filings with the SEC. All forward-looking statements are made as of the date of this press launch and REG doesn’t undertake to replace any forward-looking statements primarily based on new developments or modifications in its expectations.