NetworkNewsBreaks – Freight Technologies Inc. (N
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Posted On: 12/28/2023 4:02:24 PM
NetworkNewsBreaks – Freight Technologies Inc. (NASDAQ: FRGT) Investors Convert $3.55M Debt to Equity
Freight Technologies (NASDAQ: FRGT), a technology company that offers the proprietary Fr8App platform, announced that its investors have converted millions of dollars of convertible debt to equity. According to the announcement, investors converted approximately $3.55 million in convertible notes into equity in the form of preferred shares. Fr8App is an industry-leading, freight-matching platform powered by artificial intelligence (“AI”) and machine-learning that offers a real-time portal for business-to-business (“B2B”) cross-border shipping and domestic shipping within the United States-Mexico-Canada Agreement (“USMCA”) region. “The conversion is very positive news for the company,” said Freight Technologies CEO Javier Selgas in the press release. “The amount converted is a relevant amount that will help the company continue being listed in good standing with the NASDAQ insofar as required minimum capital amounts for continued listing as of the end of our 2023 calendar year. We believe it is also a strong indicator of the significant support that a group of our investors continue to demonstrate in the company’s strategic direction. We continue to take steps towards improving our technology and offering our solutions to niche target markets across North America.”
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
Freight Technologies (NASDAQ: FRGT), a technology company that offers the proprietary Fr8App platform, announced that its investors have converted millions of dollars of convertible debt to equity. According to the announcement, investors converted approximately $3.55 million in convertible notes into equity in the form of preferred shares. Fr8App is an industry-leading, freight-matching platform powered by artificial intelligence (“AI”) and machine-learning that offers a real-time portal for business-to-business (“B2B”) cross-border shipping and domestic shipping within the United States-Mexico-Canada Agreement (“USMCA”) region. “The conversion is very positive news for the company,” said Freight Technologies CEO Javier Selgas in the press release. “The amount converted is a relevant amount that will help the company continue being listed in good standing with the NASDAQ insofar as required minimum capital amounts for continued listing as of the end of our 2023 calendar year. We believe it is also a strong indicator of the significant support that a group of our investors continue to demonstrate in the company’s strategic direction. We continue to take steps towards improving our technology and offering our solutions to niche target markets across North America.”
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
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