Upexi Provides Shareholder Update On Restructuring To Reduce Debt; After A Nine Month Period Ended, March 31, 2024, The Company Has: $16.1M Eliminated In Debt And Accrued Interest; $7.4M In Cash To Strengthen The Balance Sheet; ~$1.5M Eliminated In Excess Operational Costs, Without Affecting Operations
Portfolio Pulse from Benzinga Newsdesk
Upexi, Inc. (NASDAQ:UPXI) has provided a shareholder update on its restructuring efforts, which include eliminating $16.1 million in debt and accrued interest, securing $7.4 million in cash, and cutting approximately $1.5 million in excess operational costs without affecting operations.
August 05, 2024 | 12:25 pm
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Upexi, Inc. has successfully restructured by eliminating $16.1 million in debt and accrued interest, securing $7.4 million in cash, and cutting $1.5 million in excess operational costs without affecting operations.
The elimination of significant debt and accrued interest, along with securing cash and reducing operational costs, strengthens Upexi's financial position. This is likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100