RDE announced that its $1.5 million Acquisition Note plus $0.3 million accrued interest from its acquisition of Restaurant.com three years ago has been converted into equity at $3.19 per common share. The $1.8 million conversion into equity improves the Company’s shareholder equity by $1.8 million and results in the Company having debt of only $0.8 million, $0.1 million GameIQ Acquisition Note and $0.7 million of Government Assistance Notes from Covid-19 Economic Injury/Disaster Loan Program, which is payable over 30 years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on RSTN:
- RDE, Inc. Strengthens Balance Sheet with Acquisition Note Payable Conversion Into Common Stock
- RDE sees Q4 revenue $1M vs. $0.9M last year
- RDE, Inc. Reports Preliminary Unaudited Fourth Quarter and Full Year 2022 Results
- RDE’s Restaurant.com gains 38% new customers in Q4
- RDE Inc.’s Restaurant.com Gains 38% New Customers in Q4 2022