- INND set out to enhance balance sheet and capital structure; enters shareholder-friendly financing arrangements
- Company announces cancellation of almost half of its variable convertible notes ($1.1 million), expects to eliminate remainder in several weeks
- INND remains committed to achieving financing terms that support growth and maximize value for our shareholders
InnerScope Hearing Technologies (OTC: INND), an emerging disruptive leader in the direct-to-consumer hearing technology space, announced that it has successfully renegotiated financing agreements with the holder of its securities, GS Capital Partners, LLC, canceling a series of the variable price convertible notes (https://ibn.fm/bxtG2). As a result of the restructuring transactions, the total principal amounting to $1.1 million held by GS Capital Partners has been eliminated, equivalent to almost half of the company’s outstanding variable price convertible notes. InnerScope expects to eliminate the remainder of its current variable price convertible notes in several weeks in a bid to enhance its balance sheet towards a shareholder-friendly capital structure.
As an innovative disruptor in the hearing aid space, InnerScope focuses on providing affordable solutions to millions of Americans suffering from hearing loss. It is estimated that one in eight people in the United States aged 12 years or older has some form of hearing loss in both…
NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND
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