Edison Nation Inc. Announces the Early Repayment and Termination of Financing Agreement
EDISON NATION (EDNT)
Company Research
Source: Business Wire
PHILLIPSBURG, N.J.--(BUSINESS WIRE)-- Edison Nation, Inc. a full-service product development company, on June 17, 2019, entered into a Settlement and Release Agreement with FirstFire Global Opportunities Fund, LLC (“FirstFire”), whereby the Company and FirstFire agreed to terminate the financing agreements entered into earlier this year. Financing was used to fund the launch of its "911 Help Now" Pendant, a unique, wearable communicator that lets you speak to a 911 emergency responder with a single touch. The Company entered into a Securities Purchase Agreement, dated March 6, 2019, with FirstFire purchasing a 2% unsecured, senior convertible promissory note from the Company. The Company agreed to pay FirstFire $565,000 and issue 15,000 shares of restricted common stock in order to terminate the agreements and promissory note. "We are happy to announce the early repayment of this financing note,
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