GBOX - GreenBox announces restructuring of convertible note terms

• GreenBox ( NASDAQ: GBOX ) has entered into an agreement to restructure the terms of the $100M convertible note financing, originally entered into on Nov. 2, 2021.
• Under the amended agreement, the note maturity will be extended by one year from Nov. 5, 2023 to Nov. 5, 2024.
• Additionally, for interest payments due will be paid in cash, GreenBox will issue shares of its common stock instead.
• “This allows us to focus on our long-term growth initiatives, adding the potential for material M&A opportunities while continuing to accelerate processing volume growth.” said Ben Errez, Chairman of GreenBox.
• GBOX -6.6% premarket to $1.84.

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