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Recruiter Group ( (RCRT) ) just unveiled an announcement.
Recruiter.com Group, Inc. faced financial challenges, issuing promissory notes and granting warrants to noteholders, but later defaulted, leading to a higher interest rate and potential acceleration of payment. To resolve the defaults, the company renegotiated the terms, extending maturities, and converting some debt to equity. This resulted in the issuance of common stock to noteholders, partially satisfying the debt and leading to a gain on debt extinguishment. Furthermore, the company authorized a considerable increase in its common stock shares and engaged in exempt offerings, selling shares to both U.S. and non-U.S. investors, with additional shares available for future transactions.
See more data about RCRT stock on TipRanks’ Stock Analysis page.