Nexus Advanced Technologies sets $2.5 million note repayment under restructuring deal with Anson Funds
NXAT•Nexus Advanced Technologies agreed to a $2.5 million full-payment milestone for a note under a restructuring deal with Anson Funds; after payment, the remaining note would be convertible only at a fixed price tied to the prior three-day average daily VWAP.
1. Note repayment terms
Nexus Advanced Technologies struck a note repayment deal with Anson Funds centered on a $2.5 million full-payment milestone. Once paid, the remaining note becomes convertible only at a fixed price tied to the prior three-day average daily VWAP, and anti-dilution, price-reset and similar adjustment terms cease to apply.
