Welcome to our dedicated page for Wildpack Beverag news (Ticker: WLDPF), a resource for investors and traders seeking the latest updates and insights on Wildpack Beverag stock.
Wildpack Beverage Inc. (WLDPF), which trades on the TSX Venture Exchange under the symbol "CANS", regularly issues news updates covering its beverage manufacturing and aluminum can packaging operations, financial performance, and capital structure. The company describes itself as a middle market co-packer of canned goods, providing sustainable aluminum can filling, decorating, packaging, brokering, sleeve/label printing services, and logistics to brands throughout the United States.
News about Wildpack often includes quarterly and annual financial results, with details on confirmed customer orders, sales orders, throughput in cans and sleeves, and plant utilization. These releases provide insight into the company’s operating volumes across decoration, filling, brokering, and sleeve printing, as well as trends in its co-packing activity for aluminum canned beverages.
Another major theme in Wildpack’s news flow is financing and restructuring. The company has reported on its term loan arrangements with Sandton Credit Solutions Master Fund V, LP, including amendments that change facility size, conversion terms, interest rates, and maturities. It has also issued multiple updates on a Debenture Restructuring Transaction involving its 8.00% convertible unsecured subordinated debentures, proposed repurchases, exchanges of debentures for common shares, and the planned delisting of debentures from the TSX Venture Exchange.
Recent releases have also addressed Wildpack’s efforts to obtain additional loans, conduct a rights offering, and manage its debt obligations. This includes a disclosure that the company was unable to pay principal and interest due on a series of 8% senior unsecured convertible debentures and is engaged in discussions with stakeholders to restructure its debt, while noting that there is no assurance of a successful outcome.
Corporate and governance developments are another area of coverage. Wildpack’s news has described operational leadership restructuring, changes in board composition, the engagement of PGP Capital Advisors, LLC as financial advisor, and transactions involving its subsidiary Thirsty Cat LLC and significant shareholders. Investors and observers can use the Wildpack news feed to follow these operational, financial, and capital structure developments over time.
Wildpack Beverage (OTC:WLDPF) has defaulted on its C$20 million 8% senior unsecured convertible debentures payment due June 30, 2025, plus C$2.4 million in accrued interest. The company faces additional debt obligations including C$20 million due November 2025 and C$5.007 million due March 2026.
The company is actively engaging with stakeholders to restructure its debt and seeking additional financing for operations. No extension has been secured, and while no payment demand has been received from the trustee, there's no guarantee of successful debt restructuring or timely transaction completion.
Wildpack Beverage (TSXV:CANS, OTC:WLDPF) provided an update on its proposed debenture restructuring transaction regarding $45,007,000 in outstanding 8.00% convertible unsecured subordinated debentures. The company is securing Other Sources Loans totaling $2,000,000 to partially fund the Debenture Repurchase.
The company has already secured commitments of $1,730,000 and is working to secure the remaining $270,000. These loans will bear 15% annual interest, increasing to 20% after 120 days, and can be prepaid without penalty. The loans will be secured against the Repurchased Debentures until cancellation.
The closing of the Other Sources Loans and Debenture Repurchase is pending the full $2,000,000 commitment and TSXV approval. The cancellation of Repurchased Debentures, Shares for Debt Settlement, and Delisting will follow the Rights Offering record date.
Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) has provided an update on its proposed Debenture Restructuring Transaction. Key points include:
1. The company entered a Third A&R Loan Agreement with Sandton, increasing the facility by US$4 million and extending the term to 2027.
2. Wildpack received Additional Funding of US$9.6 million from Sandton between June and October 2024.
3. The company plans to repurchase Debentures worth $20 million for $2 million cash and exchange remaining Debentures for Common Shares at $0.10 per share.
4. Wildpack is securing Other Sources Loans totaling $2 million to fund the Debenture Repurchase.
5. A Rights Offering is proposed to raise $3.55 million through a prospectus offering.
The company has received various approvals and is proceeding with the closing of these transactions.
Wildpack Beverage announces a restructuring transaction to manage its $45,007,000 in outstanding 8.00% convertible debentures. The proposed plan includes repurchasing $20,000,000 of these debentures for $2,000,000 in cash, delisting the debentures from the TSX Venture Exchange, and exchanging remaining debentures for common shares at $0.10 per share. Additionally, Wildpack seeks to amend its term loan with Sandton Capital, increasing the facility by $4,000,000, extending the term, and revising conversion terms. The company also aims to raise $1,325,000 in debt and conduct a rights offering to raise $3,550,000. The restructuring and concurrent transactions aim to stabilize Wildpack's financial position and improve liquidity.
Wildpack Beverage (TSXV:CANS) released its unaudited financial results for Q1 2024, ending March 31, 2024. The company also announced the resignation of Joe Bubel from its Board of Directors to avoid potential conflicts of interest. Wildpack Beverage continues to be a leading middle market co-packer of canned goods.
For further information, investors can contact Mitch Barnard, CEO, or Elijah Clare, VP of Investor Relations.
Wildpack Beverage Inc. reported strong financial performance in Q1 2024 with confirmed customer orders of $17.0 million and total throughput of 66.60 million cans. The Company also highlighted a 41% revenue growth in Q4 2023 to $13.74 million and a 24% increase in total volume compared to the previous quarter. Fiscal Year 2023 saw revenue of $56.31 million and a 4-Year Supply Agreement with Ball
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