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RAVE - RAVE Restaurant completes payment of all convertible notes in cash
Rave Restaurant Group Inc.
RAVE Restaurant (NASDAQ:RAVE) trades 1.8% higher premarket after it announced the payment of all amounts due under its 4% Convertible Senior Notes due 2022. The company paid all of the outstanding short-term notes in the amount of $1.6M in cash at maturity on Feb. 15, 2022. The payoff of the notes in cash means that no further conversion of notes into common stock will occur.