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ACT Energy Technologies Repays US$20.0 Million of Exchangeable Subordinated Promissory Note

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-- ACT Energy Technologies (ACX.TO) repaid in full the outstanding exchangeable subordinated promissory note, issued in connection with its acquisition of Rime Downhole Technologies, on July 11, 2023, it said on Monday.

The company repaid US$20.0 million of the note, plus accrued interest. The early repayment of the note was funded using the available US$20.0 million term facility provided by the company's syndicate of lenders, it said.

Shares of the company closed up 4.1% to $6.68 on Friday on the Toronto Stock Exchange.

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