RSTN - RDE converts certain acquisition note to equity
2023-03-09 15:09:31 ET
- RDE ( OTCQB:RSTN ) said Thursday 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.
- The company said it now has 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.
- Press Release .
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RDE converts certain acquisition note to equity