Business
Data443 Announces Elimination of Warrants as Part of Settlment, Continues Path to Major Market Uplist
Data443 Announces Elimination of Warrants as Part of Settlment, Continues Path to Major Market Uplist.
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 ...