Eightco Holdings (OCTO) has provided an update.
Forever 8 Fund, LLC secured up to $5 million in Series D financing and amended existing agreements to improve its financial structure, including the forgiveness and conversion of some debt to equity and the deferral of interest payments. Concurrently, the company experienced executive shifts with the resignation of Brian McFadden and Kevin O’Donnell, and the appointment of Paul Vassilakos as the new Executive Chairman and CEO, along with his entry into a new employment agreement. These strategic moves, including compensation adjustments and stock option grants, reflect the company’s efforts to streamline operations and reinforce leadership.
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