Remark holdings enters into debt exchange agreement with mudrick capital management, l.p., resolving all previous default issues

Remark holdings and mudrick enter into an agreement that allows for the exchange of mudrick's currently non-convertible notes payable from remark for convertible notes payable that allow mudrick to participate in remark's equity upside mudrick can convert the current $19 million of debt and accrued interest into remark's common stock reducing the debt on remark's balance sheet las vegas , aug. 7, 2024 /prnewswire/ -- remark holdings, inc. (otcqx: mark), a leading provider of ai-powered computer vision analytics, smart city, and smart agent solutions today announced that it has entered into a debt exchange agreement with mudrick capital management l.p. that resolves remark's events of default concerning the existing non-convertible notes payable that the company issued to mudrick by exchanging such non-convertible notes payable for notes payable convertible into shares of the company's common stock reducing the debt on remark's balance sheet.
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