Posted On: 05/29/2012 9:13:56 AM
Post# of 145119
NEOM News .0103 NeoMedia Restructures Loans and Extends Maturity Date
2012-05-29 08:00 ET - News Release
Company Website: http://www.neom.com
BOULDER, Colo. -- (Business Wire)
NeoMedia Technologies, Inc. (OTC BB: NEOM), the pioneer in global mobile barcode management solutions, today announced that it has worked with YA Global Investments, LP. (“YA”) to restructure its current financing agreements. The restructure will allow NeoMedia to capitalize on its current position in the market and continue to build for the future.
The restructured agreement will extend the maturity date of the existing loan by 12 months until August 1, 2013, from the original default date of July 29, 2012. The interest rate attached to the current loans will also be reduced.
“NeoMedia appreciates YA’s long-standing investment in the company and at this time of fast market growth, we appreciate the opportunity to restructure our debt,” said Laura Marriott, Chief Executive Officer of NeoMedia Technologies, Inc. “YA’s investment has been crucial in allowing NeoMedia to continue innovating and growing our services portfolio.”
2012-05-29 08:00 ET - News Release
Company Website: http://www.neom.com
BOULDER, Colo. -- (Business Wire)
NeoMedia Technologies, Inc. (OTC BB: NEOM), the pioneer in global mobile barcode management solutions, today announced that it has worked with YA Global Investments, LP. (“YA”) to restructure its current financing agreements. The restructure will allow NeoMedia to capitalize on its current position in the market and continue to build for the future.
The restructured agreement will extend the maturity date of the existing loan by 12 months until August 1, 2013, from the original default date of July 29, 2012. The interest rate attached to the current loans will also be reduced.
“NeoMedia appreciates YA’s long-standing investment in the company and at this time of fast market growth, we appreciate the opportunity to restructure our debt,” said Laura Marriott, Chief Executive Officer of NeoMedia Technologies, Inc. “YA’s investment has been crucial in allowing NeoMedia to continue innovating and growing our services portfolio.”
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