Nuheara Ltd. (AU:NUH) has released an update.
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Nuheara Ltd., a pioneer in smart hearing technology, has appointed KPMG’s Martin Jones, Matthew Woods, and Clint Joseph as Voluntary Administrators to assist with its strategic review amidst financial difficulties. The move follows the company’s inability to finalize a commercial agreement with Realtek Semiconducter Corporation concerning a $2.5m convertible note due soon. Administrators will work towards executing a crucial Commercial and Royalty Agreement with Realtek, deemed vital for the strategic review.
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