NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Tak
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Posted On: 04/07/2021 3:51:52 PM
NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Takes ‘Huge Step’ in Eliminating More than $2.4M Outstanding Convertible Debt
ISW Holdings (OTC: ISWH), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, has signed an agreement with GPL Ventures (“GPL”) to eliminate more than $2.4 million in convertible promissory notes. According to the announcement, the agreement will cover all convertible debt held by GPL, which represents more than 92% of ISWH’s outstanding convertible debt. The outstanding capital obligation owed to GPL was subject to conversion at a significant discount compared to the stock’s current trading levels, but the announced noted that no related conversion or liquidation will take place. The agreement is part of the company’s anti-dilution initiative, which it shared in December 2020. As a result of the initiative, ISWH has reduced outstanding shares by nearly 25%, reduced authorized shares by 88% and eliminated more than $3.4 million of outstanding convertible debt, which is approximately 94% of the company’s convertible debt. “This is a huge step,” said ISW Holdings president and chair Alonzo Pierce in the press release. “We are making good on our anti-dilution pledge announced last year and taking strong action to reduce or completely eliminate toxic debt and dilution risk from the equation for our shareholders. This enormous step prevents millions of shares from coming onto the market. We were able to take this step as a direct result of strong operational performance and a significantly improved outlook ahead.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
ISW Holdings (OTC: ISWH), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, has signed an agreement with GPL Ventures (“GPL”) to eliminate more than $2.4 million in convertible promissory notes. According to the announcement, the agreement will cover all convertible debt held by GPL, which represents more than 92% of ISWH’s outstanding convertible debt. The outstanding capital obligation owed to GPL was subject to conversion at a significant discount compared to the stock’s current trading levels, but the announced noted that no related conversion or liquidation will take place. The agreement is part of the company’s anti-dilution initiative, which it shared in December 2020. As a result of the initiative, ISWH has reduced outstanding shares by nearly 25%, reduced authorized shares by 88% and eliminated more than $3.4 million of outstanding convertible debt, which is approximately 94% of the company’s convertible debt. “This is a huge step,” said ISW Holdings president and chair Alonzo Pierce in the press release. “We are making good on our anti-dilution pledge announced last year and taking strong action to reduce or completely eliminate toxic debt and dilution risk from the equation for our shareholders. This enormous step prevents millions of shares from coming onto the market. We were able to take this step as a direct result of strong operational performance and a significantly improved outlook ahead.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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