2023-05-23 10:22:16 ET
- Stem cell nutrition company Stemtech ( OTCQB:STEK ) said on Tuesday that it will restructure the 3 convertible debt instruments issued to separate institutional investors at the time of completing reverse merger.
- Two of the investors have agreed to complete equity conversion for their debt and warrants.
- The third investor has agreed on the elimination of all conversion features in exchange for cash payment.
- "We now only have one key strategic investor with a $7M credit facility," CEO Charles Arnold said.
- Source: Press Release
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Stemtech to restructure 3 convertible debt instruments