GreenBox (NASDAQ: GBOX), an emerging and rapidly growing fintech company, today announced its entry into an agreement to restructure the terms of the $100 million convertible note financing, originally entered into on Nov. 2, 2021. As detailed on the company’s filed Form 8-K and under the amended agreement, the note maturity will be extended by one year from Nov. 5, 2023, to Nov. 5, 2024. In addition, for interest payments due on and after Oct. 3, 2022, unless the company specifies with written notice that interest will be paid in cash, GreenBox will instead issue shares of its common stock. “In the spirit of cooperation with our note holder, we were once again able to come to mutually agreed upon terms, to mitigate risk, while significantly improving our cash flows,” said Ben Errez, chairman of GreenBox POS. “This allows us to focus on our long-term growth initiatives, adding the potential for material M&A opportunities while continuing to accelerate processing volume growth.”
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About GreenBox POS
GreenBox is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The company’s applications enable an end-to-end suite of turnkey financial products, fraud detection and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the company’s website at www.GreenBoxPOS.com.
NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://ibn.fm/GBOX
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