Softbank converts US $1M CIGL note into 259,082 shares at US $4.00
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Concorde International Group Ltd reports that Softbank Robotics Singapore Pte Ltd has converted its US $1,000,000.00 convertible note, plus US $36,328.69 of accrued but unpaid interest, into Class A Ordinary Shares of the company.
On September 12, 2025, Softbank submitted a conversion notice to exchange the full loan principal and accrued interest for 259,082 Class A Ordinary Shares at a conversion price of US $4.00 per share. This transaction fully discharges the loan and related interest and replaces that debt with additional equity in the form of new Class A Ordinary Shares.
Positive
- None.
Negative
- None.
FAQ
What did Concorde International Group Ltd (CIGL) announce in this 6-K?
Concorde International Group Ltd announced that Softbank Robotics Singapore Pte Ltd converted a US $1,000,000.00 convertible note, plus US $36,328.69 interest, into 259,082 Class A Ordinary Shares at US $4.00 per share, fully discharging the loan and accrued interest.
What was the conversion price for Softbank’s CIGL note?
The note was converted into Concorde International Group Ltd Class A Ordinary Shares at a conversion price of US $4.00 per share. This price applied to both the US $1,000,000.00 principal and US $36,328.69 accrued interest when Softbank exercised its conversion right.
How much debt did Concorde International (CIGL) eliminate through this conversion?
Concorde International Group Ltd eliminated US $1,000,000.00 in principal and US $36,328.69 of accrued but unpaid interest. Softbank discharged the entire loan amount and related interest in exchange for 259,082 newly issued Class A Ordinary Shares at US $4.00 per share.
When did Softbank decide to convert its CIGL convertible note?
Softbank furnished a duly executed conversion notice on September 12, 2025. Under the original June 10, 2024 note terms, Softbank could convert after one year, at a price formula tied to the IPO price or a 15% discount to a volume-weighted average price.