Eightco Announces Early Repayment Of Debt, Private Placement Priced At A Purchase Price Of $0.82 Per Share And Issued To Certain Investors Promissory Notes; Announces Certain Changes At The Parent Company Level
Portfolio Pulse from Benzinga Newsdesk
Eightco Holdings Inc. (NASDAQ:OCTO) has completed its final repayment of the Hudson Bay Note ahead of schedule, reducing debt and enabling growth for its subsidiary Forever 8. The company also conducted a private placement at $0.82 per share and issued promissory notes to investors. Changes in company officers and the issuance of common stock to settle obligations were announced. These financial maneuvers aim to reduce costs and focus resources on Forever 8's growth.
February 26, 2024 | 9:44 pm
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Eightco Holdings Inc. has repaid its debt early, conducted a private placement, and made strategic changes to focus on growth. These actions are aimed at reducing costs and enhancing the growth potential of its subsidiary Forever 8.
The early repayment of debt and the successful private placement at $0.82 per share indicate a strong financial position and strategic focus on growth, particularly through its subsidiary Forever 8. These actions, along with the strategic changes at the company level, are likely to be viewed positively by investors, potentially leading to a short-term positive impact on OCTO's stock price.
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