AVAX One repays, retires $6.8 million of convertible debentures
AVX•Convertible debenture restructuring completed
Avax One Technology completed a restructuring of outstanding convertible debentures, retiring about $6.8 million of principal.
Two institutional investors’ debentures were fully repaid, retired, and cancelled; a third investor’s debenture was partially reduced and amended.
The restructuring included payment of repayment premiums and accrued interest, funded with cash on hand and a reduced escrow receivable.
The amendment raised the minimum cash and bitcoin covenant to $3.5 million from $100,000.
