Business
Data443 Announces Elimination of Warrants as Part of Settlement, Continues Path to Major Market Uplist - Updated
Data443 Announces Elimination of Warrants as Part of Settlement, Continues Path to Major Market Uplist - Updated.
About this update from Data443 Risk Mitigation Inc Nev
[{"type":"text","content":"\n Shareholder Friendly Transaction Removes Significant Derivative Liability Component RESEARCH TRIANGLE PARK, NC, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce a settlement agreement with a long-term PIPE investor group resulting in elimination of substantial outstanding warrants. MAJOR HIGHLIGHTS OF THE TRANSACTION: Over 300,000,000 warrants have been cancelledThe Company has issued fixed-floor promissory notes to three investors in connection to the warrants with no derivative instruments attached for a total of $100,000As a result, the Company has eliminated virtually all outstanding warrants and derivative liabilities outstanding pertaining to warrant conditions related to warrant-based instruments Jason Remillard, CEO of Data443 commented, “This transaction is important for the Company’s continued financial health, removing a major hurdle towards completing further transactions that we are expecting to close in the near future. This transaction is an excellent resolution for the Company and introduces shareholder-friendly fixed debt instruments into our financing mix, that will continue to be important measures as we proceed into our next phases of our business growth. We thank our long-term investors for their continued support of the business and our joint goals!” BUSINESS UPDATE CONFERENCE CALL Data443 will hold a Business Update Conference Call and Webcast on Thursday, November 19, 2020 at 4:30pm ET. Investors and other interested parties may submit their questions ahead of time by emailing Investor Relations at [email protected]. Online registration is available at: https://info.data443.com/2020q3-business-update About Data443 Risk Mitigation, Inc. Data443 Risk Mitigation, Inc. (OTCPK: ATDS), is the de facto industry leader in Data Privacy Solutions for All Things Data Security™, providing software and services to enable secure data across local devices, network, cloud, and databases, at rest and in flight. Its suite of products and services is highlighted by: (i) ARALOC™, which is a market leading secure, cloud-based platform for the management, protection and distribution of digital content to ...