Business
Dr. Phone Fix Amends Interest Conversion on $1.608 million 10% Debentures, Pending TSXV Acceptance
By News Desk ·
Key takeaways
- Dr. Phone Fix amended accrued interest on its $1.608 million 10% convertible debentures to convert at the prior-day TSXV closing price.
- Principal on the debentures remains convertible at $0.16 per share.
- The amendment requires TSXV acceptance and received majority holder consent.
Dr. Phone Fix Canada Corporation amended the terms of its $1.608 million 10% convertible debentures so that accrued interest converts at the prior-day TSXV closing price rather than below market price, subject to TSXV acceptance, according to TradingView. The company said principal remains convertible at $0.16 per share and that majority holder consent was obtained.
Dr. Phone Fix Ties Interest Conversion to Market Price
The amendment sets a floor at the TSXV market price, preventing interest from converting into shares at a discount to the prior day's close. Principal conversion economics are unchanged at $0.16 per share. The debentures are unsecured and carry a 10% rate. Majority holder consent makes the amendment binding on all holders. TSXV acceptance remains a condition, and a denial would leave interest payable in cash.
Dr. Phone Fix's Debenture Financing History
Dr. Phone Fix is a Canadian consumer electronics repair and certified pre-owned device retailer operating 44 corporately owned retail locations across five provinces, according to akta.pro company records. The same records show a 2026-05 post-IPO debt round of $1.2 million and a 2025-10 post-IPO equity round of $1.8 million. Preliminary unaudited FY2025 revenue was approximately $12.1 million, up 19% from $10.2 million in 2024, with adjusted EBITDA of approximately $0.6 million.
Earlier Financings and Store Growth
Dr. Phone Fix closed the second tranche of its non-brokered private placement of convertible debenture units in July 2026, issuing 726 units at $1,000 each for $726,000 in gross proceeds, Newswire reported. The company completed its acquisition of Martin Cell Phone Solutions in August 2026, adding a New Brunswick location and expanding its corporately owned network to 45 locations across six provinces, at a value of $144,440.48, Newswire reported. In August 2026, Dr. Phone Fix reported Q2 revenue of $3.76 million, up 32% year-over-year, and H1 revenue of $6.92 million, up 37%, Newswire reported.
What Follows the Debenture Amendment
TSXV acceptance of the amendment is the stated next step. The company's public expansion plan targets growth from 44 to approximately 70 corporately owned retail locations across Canada by the end of 2026, according to company records.