Daktronics announces intention to convert $25 million convertible promissory note into common stock

Brookings, s.d., nov. 08, 2024 (globe newswire) -- daktronics, inc. (“daktronics” or the “company”) (nasdaq-dakt), the leading u.s.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today announced that, after careful deliberation, the board of directors (the “board”) has determined that it is in the best interests of the company and its common shareholders to exercise the company's right to convert an initial $7.0 million in face value of the $25 million senior second lien secured promissory note (the “convertible note”) held by alta fox capital management, llc (together with its affiliates, “alta fox”) into approximately 1.1 million shares of the company's common stock.
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