Impact BioMedical Inc. has announced a significant financial restructuring through a Debt Conversion Agreement with DSS, Inc. The agreement involves the conversion of an outstanding loan, originally valued at $12 million, into common stock. Under the terms of the agreement, Impact BioMedical will issue 31,939,778 shares of its common stock to DSS, effectively settling the debt in full. The original loan, which was subject to amendments including a revised interest rate of WSJ Prime + 0.5%, will be entirely satisfied with this conversion. This strategic move aims to strengthen Impact BioMedical's financial position by reducing its debt obligations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.