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Exciting News from Freight Technologies, Inc.
HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) —
Hey there, fellow freight enthusiasts! We have some thrilling news to share with you all today. Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), just announced a major agreement with Freight Opportunities LLC that is sure to make waves in the industry.
Freight Technologies is known for its innovative Fr8App, a cutting-edge freight-matching platform powered by AI and machine learning. This platform provides real-time solutions for B2B cross-border and domestic shipping within the USMCA region.
The recent agreement involves the extinguishment of $906K of outstanding promissory notes and accumulated interest, as well as the remaining balance of Convertible Notes on Freight Technologies’ June 30, 2024 balance sheet, totaling $220K. Despite this financial restructuring, Freight Opportunities remains a valued equity investor in the Company.
This development marks a significant milestone for Freight Technologies, positioning the company for even greater success in the future. We can’t wait to see what exciting opportunities lie ahead!
How This News Will Affect You
On a Personal Level:
If you’re a business owner or logistics manager who relies on efficient shipping solutions, this agreement could potentially lead to improved services and cost savings for your operations. Keep an eye on Freight Technologies for exciting developments that could benefit your business!
How This News Will Affect the World
On a Global Scale:
The agreement between Freight Technologies and Freight Opportunities has the potential to impact the global freight industry by setting a precedent for strategic partnerships and financial restructuring. This could pave the way for enhanced collaboration and innovation within the sector, ultimately benefiting businesses and consumers worldwide.
In Conclusion
With this latest announcement, Freight Technologies is poised for continued growth and success in the ever-evolving world of freight technology. Stay tuned for more updates and exciting developments from Fr8Tech!
