Market News / Story
INQ substantially deleverages its balance sheet as secured lenders convert USD 5.4 million of convertible debt into shares
GlobeNewswire ·
GlobeNewswire reports: INQ Group AB (publ) (“INQ” or the “Company”) today announces that holders of its senior secured convertible loan have elected to convert approximately USD 5.43 million of principal and accrued interest into equity, reducing the principal outstanding under the loan by more than three quarters, from approximately USD 6.7 million to approximately USD 1.55 million. Around 78 per cent of the new shares will be held by the Company’s two largest shareholders and by its…