As a result of the closing of the Acquisition, each holder of Subscription Receipts received, for no additional consideration and subject to adjustment, one special warrant (each a “Special Warrant” and, collectively, the “Special Warrants”) that, upon the satisfaction of certain conditions, shall be automatically exercised, for no additional consideration, to acquire $1,000 principal amount of 5.875% senior unsecured convertible debentures of the Company (each, a “Convertible Debenture” and, collectively, the “Convertible Debentures”). Each Convertible Debenture shall be convertible into common voting shares or variable voting shares of the Company, as applicable, at a price of C$8.00 per share, subject to adjustment in certain events.

Source: DHX Media Closes Acquisition of Peanuts and Strawberry Shortcake