Inseego Corp. Cuts Debt by 30%, Secures Long-Term Financial Stability
Portfolio Pulse from Benzinga Newsdesk
Inseego Corp. (NASDAQ:INSG) has announced a significant debt reduction and restructuring initiative, cutting its total debt by 30% and securing long-term financial stability. The company repurchased and exchanged a substantial portion of its 3.25% convertible notes due 2025, involving major stakeholders and new long-term debt and equity arrangements.
July 01, 2024 | 10:17 am
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Inseego Corp. has successfully reduced its total debt by 30% and restructured its 2025 convertible notes, involving major stakeholders and new long-term debt and equity arrangements. This move significantly improves the company's capital structure and financial stability.
The reduction of debt by 30% and the restructuring of the 2025 convertible notes at a discount significantly improve Inseego's financial position. This move is likely to be viewed positively by investors, enhancing the company's long-term stability and operational results.
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