La Rosa signed a nonbinding LOI with ATW AI Infrastructure III to exchange part of its Senior Secured Convertible Promissory Note due Jan. 8, 2028 into convertible preferred stock.
ATW AI Infrastructure IIIB would waive, in part, its Right to Receive Tokens, with the waiver set to close alongside the exchange.
The transaction targets a Nasdaq Listing Rule 5550(b)(1) stockholders’ equity shortfall, with liabilities to be exchanged or waived capped at USD 10 million.
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