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ISW Holdings Continues Anti-Dilution Agenda by Eliminating Major Convertible Note with $363K Preemptive Payment
ISW Holdings Continues Anti-Dilution Agenda by Eliminating Major Convertible Note with $363K Preemptive Payment.
About this update from Blockquarry Corp.
[{"type":"text","content":"\n LAS VEGAS, March 09, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, is pleased to announce that the Company has paid off and cancelled a major convertible debt note by allocating $363,000 to settle the outstanding obligation and remove it from the books. “As our financial reality has shifted over recent months, we have an opportunity to drive value for our shareholders in many ways, including eradicating dilution risk by being proactive in addressing outstanding liabilities,” noted Alonzo Pierce, president and chairman of ISW Holdings. “Without this action, the note would have had the potential to convert at a 50% discount to current share pricing. We weren’t comfortable with that potential outcome, so we deployed capital to eliminate that risk.” The convertible note that has now been cancelled presented a dilution risk for shareholders upon potential conversion into equity at as much as a 50% discount to market pricing for shares. Management is committed to preventing dilution risk as part of its official anti-dilution strategic initiative, introduced last year. The Company has regularly and consistently taken steps to eliminate, cancel or preempt dilution risks such as those presented by convertible debt notes since announcing this initiative. This announcement follows the Company’s recent moves to energize its initial POD5IVE crypto mining unit and to acquire the means to assemble and energize two additional mining pods, each powering full-scale mining operations involving hundreds of high-performance mining rigs. Pierce added, “This is just the beginning on so many levels, and we will continue to protect our shareholders and advance their interests around every corner. We are approaching every decision from the perspective of driving long-term value. We have a number of very exciting announcements coming as we continue to expand operations at a rapid rate, but we know that none of this would be possible without the steady, strong-handed support of our valued shareholders.” About ISW HoldingsISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company compri...