Tuesday, November 12, 2019
12:31 PM EST – General Moly, Inc. : Announced that on November 8, the Company has reached an agreement in principle with the holder of $5 million of the Company’s Senior Convertible Promissory Notes and certain other holders of Senior Convertible Notes and Senior Promissory Notes to exchange the Senior Notes for new units consisting of new senior non-convertible promissory notes in the same original principal amount bearing an interest rate between 12-14% and otherwise providing for similar terms and a three-year warrant to purchase Company common stock at $0.35 share. The Exchange Notes will extend the maturity date until December 2022. General Moly, Inc. (T.GMO ) shares were unchanged at 0.34.
Stocks in Play: General Moly, Inc., Tue, 12 Nov 2019 12:42:57 EST