NetworkNewsBreaks – Data443 Risk Mitigation Inc. (ATDS) Announces Financial Transactions to Secure Growth Capital, Retire Debt
Data443 Risk Mitigation (OTC: ATDS), a data security and privacy software company for “All Things Data Security,” has completed a series of transactions resulting in $1.5 million in growth capital for the company; the funds also allow the company to retire some outstanding debt obligations. According to the announcement, the transactions comprised of a direct investment of $1.5 million, exchanging of an outstanding note for a new note with new terms and the release of specific security interests on portions of the company’s assets. The company noted that these transactions align with its goal to reduce debt and improve debt terms, which will provide flexibility for the company to complete outstanding technology acquisitions and work toward its objective of uplisting on a major stock exchange. The announcement noted that Dawson James Securities Inc. acted as the sole placement agent. “We are pleased with the outcome of our debt refinancing efforts, which represents a very productive step in assuring our long-term viability and delivering shareholder value,” said Data 443’s CEO and founder Jason Remillard in the press release. “We appreciate the efforts of all parties to complete the transactions at terms that align and benefit all parties. Notwithstanding the persisting market uncertainties, we raised the funds necessary to facilitate and close accretive transactions while retiring debt. Importantly, this debt retirement positively impacts our shareholder equity ratio, a critical factor in meeting the prerequisites for a listing on a premier stock exchange.”
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Data443 Risk Mitigation (OTC: ATDS), a data security and privacy software company for “All Things Data Security,” has completed a series of transactions resulting in $1.5 million in growth capital for the company; the funds also allow the company to retire some outstanding debt obligations. According to the announcement, the transactions comprised of a direct investment of $1.5 million, exchanging of an outstanding note for a new note with new terms and the release of specific security interests on portions of the company’s assets. The company noted that these transactions align with its goal to reduce debt and improve debt terms, which will provide flexibility for the company to complete outstanding technology acquisitions and work toward its objective of uplisting on a major stock exchange. The announcement noted that Dawson James Securities Inc. acted as the sole placement agent. “We are pleased with the outcome of our debt refinancing efforts, which represents a very productive step in assuring our long-term viability and delivering shareholder value,” said Data 443’s CEO and founder Jason Remillard in the press release. “We appreciate the efforts of all parties to complete the transactions at terms that align and benefit all parties. Notwithstanding the persisting market uncertainties, we raised the funds necessary to facilitate and close accretive transactions while retiring debt. Importantly, this debt retirement positively impacts our shareholder equity ratio, a critical factor in meeting the prerequisites for a listing on a premier stock exchange.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
