PR Newswire
TAIPEI , Jan. 25, 2022 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced that, on January 21, 2022 , the Company has received the certificates of the 735,835 shares of the Series B preferred shares issued by Aeolus Robotics Corporation ("Aeolus"), as a result of its conversion of 20% of the US$10,000,000 principal amount convertible promissory note (the "Note") issued by Aeolus.
The conversion was exercised in accordance with the right under the Note and was in the amount of US$2,000,000 at the conversion price of US$2.718 per share, effective December 30, 2021 . After the conversion, the outstanding principal amount under the Note is US$8,000,000 .
About GigaMedia
Headquartered in Taipei, Taiwan , GigaMedia Limited ( Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong . GigaMedia's digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw .
The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2021 .
SOURCE GigaMedia