$7.2 Million Debt Extension and $3.1 Million New Financing to Fuel Expansion Plans for 2025
Eightco Holdings Inc. Announces Debt Restructuring and New Financing
Easton, PA, Dec. 20, 2024 (GLOBE NEWSWIRE) —
Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) today announced that its wholly-owned subsidiary, Forever 8 Fund, LLC (“Forever 8”), completed a series of transactions with respect to its outstanding Series A, Series B, Series C, and Series D promissory notes (the “Old Debt”) to create new Series A and Series C promissory notes (the “New Debt”) and retire the Old Debt. The transactions resulted in an extension of $7.2 million of existing debt and the raising of an incremental $3.1 million of debt to fund growth through the end of the fourth quarter of 2024 and into 2025.
This strategic move by Eightco Holdings Inc. highlights the company’s commitment to expanding its operations and achieving sustainable growth in the upcoming year. By restructuring its debt and securing additional financing, Eightco is positioning itself for success in the competitive market landscape.
The extension of $7.2 million in existing debt will provide Eightco with the necessary resources to continue its current initiatives and drive innovation within its business verticals. Additionally, the injection of $3.1 million in new financing will enable the company to explore new opportunities, enhance its product offerings, and expand its market presence.
With a focus on long-term growth and financial stability, Eightco Holdings Inc. is setting the stage for a successful future as it enters 2025. By leveraging this new financing to fuel its expansion plans, the company is poised to capitalize on emerging trends and capture a larger share of the market.
How Will This Affect You?
As a consumer, the expansion and growth of Eightco Holdings Inc. could translate to an improved product and service offerings, as well as enhanced customer experiences. With increased financial resources, the company may invest in research and development, leading to the development of new and innovative solutions to meet your needs. Additionally, the company’s expansion may result in job creation and economic growth in the regions where it operates, potentially benefiting local communities.
How Will This Affect the World?
The financial restructuring and new financing by Eightco Holdings Inc. could have broader implications for the business world. By demonstrating a commitment to growth and sustainability, the company sets a positive example for other organizations looking to thrive in a competitive environment. The success of Eightco could inspire confidence in the market and attract investors to similar ventures, driving overall economic activity and fostering innovation.
Conclusion
In conclusion, the debt extension and new financing announced by Eightco Holdings Inc. signal a significant step towards the company’s expansion and growth in 2025. With a strategic focus on leveraging financial resources to drive innovation and market presence, Eightco is well-positioned to achieve its objectives and create value for its stakeholders. As the company progresses on its growth trajectory, the effects of its actions are likely to be felt by consumers, communities, and the wider business landscape.
