Captivision announces strategic improvements to balance sheet

2024-07-23 21:01

Captivision (NASDAQ:CAPT) has announced strategic improvements to its balance sheet, resulting in a strengthening of its financial position.
The Company entered into contribution agreements with certain creditors of its wholly owned subsidiary, Captivision Korea.
Pursuant to which, the Contributors agreed to contribute the respective outstanding balances remaining under various debt agreements with Captivision Korea to the Co. in exchange for the issuance by the Company of its ordinary shares in a debt to equity conversion transaction.
Pursuant to the Conversion, an aggregate of KRW 5,791,867,301 of Contributed Debt was contributed to the Co. in exchange for the issuance of an aggregate of 1.41M shares at a conversion price per share equal to $3.00.
“We appreciate our investors’ continued support as we position Captivision for ongoing success,” said Gary Garrabrant, Chairman and CEO.

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