MSGM - Motorsport Games converts remaining debt in additional debt-for-equity exchange
- Motorsport Games ( NASDAQ: MSGM ) has entered into an additional debt-for-equity exchange agreement with its majority stockholder, Motorsport Network, to repay $2.95M representing all remaining debt of the Co.
- Under the Agreement, the Co. agreed to file a registration statement with the SEC upon Motorsport Network’s demand in order to register the resale of the shares acquired by Motorsport Network under the Agreement.
- The Agreement also granted certain piggyback registration rights to Motorsport Network.
- MSGM -24.32% premarket to $28.
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Motorsport Games converts remaining debt in additional debt-for-equity exchange