text: Killam’s $57.5 million convertible subordinated debentures are redeemable at the option of Killam after November 30, 2013, and on 
  or before november 30, 2015 (provided that the current market price of the common shares of the company on the date on which 
  the notice of redemption is given is not less than 125% of the conversion price). After November 30, 2015, the debentures are 
  redeemable at face value. Upon maturity or redemption, Killam may elect to repay all or any portion of the debentures outstanding 
  by issuing the number of common shares obtained by dividing the aggregate of the principal amount of the debentures that have 
  matured or are being redeemed by 95% of the weighted average market price of the common shares for the preceding 20 days 
  (ending 5 days preceding the fixed date for redemption or maturing). At the time of issuance, the fair value of Killam’s obligation 
  to make principal and interest payments was $52.5 million and the fair value of the holders’ conversion option was $5.0 million 
  (which is reflected in “Other paid‑in capital”). The effective rate of interest on the liability component, which is paid semiannually, is 
  calculated at 7.3%. 