QualityStocksNewsBreaks – Spectrum Global Solutions, Inc. (SGSI) Eliminates Over $3M in Convertible Debt
Leading telecommunications engineering and infrastructure services provider Spectrum Global Solutions (OTCQB: SGSI) on Thursday announced that it has forced the conversion into common stock of over $3.67 million in convertible seller notes issued in 2017 and 2018. According to the update, the effect of the conversion was to both reduce debt and accrued interest, as well as increase the company’s shareholder net equity as it prepares to apply for NASDAQ uplisting. “These seller notes have had a toxic impact on our stock price in recent months as portions of the notes were sold at a discount to face value and…