InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer (“DTC”) hearing technology space, recently renegotiated financing agreements with GS Capital Partners LLC, the holder of its securities, canceling a series of variable price convertible notes. “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 toward a shareholder-friendly capital structure,” notes a recent article. Matthew More, president and CEO of InnerScope, commented on the debt restructuring, saying, “InnerScope is pleased to enter into these shareholder-friendly financing arrangements, which enhances our balance sheet and capital structure… We will work diligently to achieve the most attractive financing terms that support our growth and maximize value for our shareholders.”
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About InnerScope Hearing Technologies Inc.
InnerScope is a leading direct-to-consumer (“DTC”) manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and personal sound amplifier products (“PSAPs”) (“hearing products”) dedicated to addressing the global demand for affordable hearing solutions. InnerScope’s products and its business model break through the persistent barriers that prevent access to effective hearing solutions. InnerScope’s recent acquisition of iHear Medical Inc., a DTC cloud-based hearing solution provider, gives the company access to over 40 patents and an FDA-registered manufacturing and R&D facility. In addition, InnerScope has acquired HearingAssist, an established leader in the direct-to-consumer hearing aid market with a customer base of over 400,000. These acquisitions, combined with a partnership with Atlazo Inc., a semiconductor innovator for next-generation AI smart devices, will allow InnerScope to better position itself in the direct-to-consumer hearing solutions market by selling advanced hearing products through Walmart and other major retailers. InnerScope’s full line of hearing health products is currently available through these multiple retail/wholesale channels: Walmart.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba RGH Enterprises Inc., which provides InnerScope products to FSAStore.com, HSAStore.com and WellDeservedHealth.com. Additional major retailers in-store and online are launching soon. For information related to InnerScope Hearing Technologies’ latest hearing aids and related hearing products, please visit www.iHearDirect.com and www.HearingAssist.com. For the most up-to-date information about InnerScope, please visit and follow its official Twitter account @inndstock page: https://twitter.com/inndstock.
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