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An announcement from Remark Holdings (MARK) is now available.
Remark Holdings, Inc. successfully negotiated an Exchange Agreement with Mudrick Capital Management and its investors to swap existing promissory notes for new Secured Convertible Debentures, combining the original principal with accrued interest. The debentures, which mature in 2025, carry a high-interest rate and are convertible into Remark’s common stock under specified conditions. To safeguard the transaction, assets from Remark and its subsidiaries are secured, while investors, who are accredited, engaged in this private placement without public solicitation, adhering to specific securities regulations.
See more insights into MARK stock on TipRanks’ Stock Analysis page.