InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – GreenBox POS (NASDAQ: GBOX), Convertible Note Investor Collaborate to Mitigate Immediate Conversion Risk
January 31, 2022

InvestorNewsBreaks – GreenBox POS (NASDAQ: GBOX), Convertible Note Investor Collaborate to Mitigate Immediate Conversion Risk

GreenBox (NASDAQ: GBOX), an emerging and rapidly growing fintech company, today announced that it has entered into an agreement with respect to the $100 million convertible note financing, originally entered into on Nov. 2, 2021, in order to relieve immediate conversion concerns. Under the agreement, as detailed on GreenBox’s simultaneously filed Form 8-K, certain conversion triggers will be extended from February 3 to May 2, 2022. The 90-day extension offers the company the time to push its business forward toward increased growth, leading to a potentially higher valued stock price and, perhaps, even driving it to a level where the note may be cleared altogether. In a mutually beneficial arrangement, GreenBox has agreed to reduce the note principal to $94,000,000 from the original $100,000,000 in consideration of a payment of $6.9 million. “While raising capital to further fuel our growth initiatives is essential, ensuring long-term value for our esteemed shareholder community is critical. As we take this step with the full cooperation of the investor holding this note, we are delighted to have successfully renegotiated these amended terms,” said Ben Errez, chairman of GreenBox POS. “With a robust pipeline of transformative upcoming initiatives, we are incredibly confident in our ability to execute on our corporate objectives and further deliver the results our shareholders expect from our organization.”

To view the full press release, visit https://ibn.fm/mMp17

About GreenBox POS

GreenBox is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The company’s applications enable an end-to-end suite of turnkey financial products, helping to reduce fraud and improve the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the company’s website at www.GreenBoxPOS.com.

NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://ibn.fm/GBOX

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).