SAFE-T Announces it has Retired all Outstanding Debenture Debt
Safe-T Group Ltd. - American Depositary Shares (SFET)
Company Research
Source: GlobeNewswire
Recent Equity Financing Leads to Stronger Balance Sheet, Free of Convertible Debt with Sufficient Cash Reserves to Drive Growth HERZLIYA, Israel, April 27, 2020 (GLOBE NEWSWIRE) -- Safe-T® Group Ltd. (NASDAQ, TASE: SFET) (Safe-T or the Company), a provider of Secure Access solutions for on-premise and hybrid cloud environments, today announced that on April 23, 2020, the Company retired in full its outstanding debenture debt. On April 20, 2020, the Company reported a significant decrease of approximately 93% in its liabilities of a total of $8.23 million pertaining to the convertible debentures issued in April 2019 and in subsequent convertible loan transactions undertaken by the Company. On April 23, 2020, the Company retired in full its outstanding debenture debt, including redemption premium and accrued interest. “Full retirement of our convertible debentures represents another important milestone in the continual improvement of the Company’s balance sheet,”
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