TRNF - Taronis Fuels retires its largest single tranche of debt

Taronis Fuels ([[TRNF]] -0.4%) intends to repay $7.05M of the existing $7.65M senior secured convertible note.Only one note holder requested to continue to maintain their existing $0.6M note and also agreed to invest an incremental $0.6M in the previously announced $10.85M equity private placement which closed yesterday. Scott Mahoney, CEO of Taronis Fuels said, “By repaying all but one note holder, and leaving that small balance in place, we now have significantly greater flexibility to complete a line of credit with a traditional banking institution at a greatly reduced cost of capital.”

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Taronis Fuels retires its largest single tranche of debt