Trending...
- IntellaTriage Launches New Patient Engagement Service
- New Rochelle: Westchester County Seeks Input from Residents on Waste Reduction
- Growth Marshal Unveils New Article on Integrated SEM and SEO Strategies for Startups
~ Las Vegas, Nevada - Remark Holdings, Inc. (OTCQX: MARK), a leading provider of AI-powered computer vision analytics, smart city, and smart agent solutions, has announced a debt exchange agreement with Mudrick Capital Management L.P. The agreement resolves Remark's events of default concerning the existing non-convertible notes payable that the company issued to Mudrick.
Under the terms of the agreement, Mudrick will exchange the non-convertible notes payable for notes payable convertible into shares of Remark's common stock. This will reduce the debt on Remark's balance sheet and strengthen its financial position. The agreement also resolves all currently-outstanding events of default.
"We are pleased to enter into a win-win agreement with Remark because the company has outlined a clear business plan over the next 24 months that gives us confidence to enter into this exchange agreement," says Jason Mudrick, President of Mudrick Capital. "The recent sales and marketing partnerships announced with Intel, Microsoft, Nvidia, and Oracle coupled with a cutting-edge product roadmap support a strong pipeline for the second half of 2024 and beyond."
More on Nyenta.com
Mudrick also highlights Remark's potential in the AI industry and compares it to their successful investment in AMC Entertainment. "Remark perfectly fits our investment thesis for finding attractive risk-reward opportunities," he adds.
Kai-Shing Tao, Chairman and CEO of Remark Holdings, expresses gratitude towards Mudrick Capital for working with them while they built their business. "Together, we turned our financial challenges into opportunities," he says. Tao also mentions their plans to re-list on a national exchange in the fall as they reduce their debt and increase shareholder equity.
Mudrick Capital Management L.P. is an SEC-registered investment management firm specializing in stressed and distressed credit investing in the U.S. and European credit markets. With offices in New York and London, they manage approximately $3.3 billion on behalf of global institutional investors. The firm focuses on opportunities across the corporate capital structure to provide equity-like returns with credit-like risk and volatility.
More on Nyenta.com
Founded in 2009, Mudrick Capital has deployed over $12 billion across 300 investments. Led by Chief Investment Officer Jason Mudrick, the team has over 180 years of combined investing experience and has served on over 200 boards of directors and creditors' committees.
Remark Holdings, Inc. is an AI-powered analytics platform that provides valuable insights to video feeds through its integrated suite of AI tools. Their solutions are GDPR-compliant and CCPA-compliant, serving government agencies, hospitality, public safety, retail, and transportation sectors. The company has established sales and marketing relationships with industry giants such as Intel, Microsoft, Nvidia, and Oracle.
With headquarters in Las Vegas and operational offices in New York and international offices in London, Remark Holdings is well-positioned for growth in the AI industry. For more information about the company, please visit their website at www.remarkholdings.com.
Under the terms of the agreement, Mudrick will exchange the non-convertible notes payable for notes payable convertible into shares of Remark's common stock. This will reduce the debt on Remark's balance sheet and strengthen its financial position. The agreement also resolves all currently-outstanding events of default.
"We are pleased to enter into a win-win agreement with Remark because the company has outlined a clear business plan over the next 24 months that gives us confidence to enter into this exchange agreement," says Jason Mudrick, President of Mudrick Capital. "The recent sales and marketing partnerships announced with Intel, Microsoft, Nvidia, and Oracle coupled with a cutting-edge product roadmap support a strong pipeline for the second half of 2024 and beyond."
More on Nyenta.com
- Infinity Garage Door Repair Offers 24/7 Emergency Service & Smart Home Upgrades in Las Vegas
- Second Circuit Court of Appeals Rules in Favor of The Lawfare Project In Trademark Dispute
- SlotCycle Raises $5.6 Million to Transform Secondary Gaming Capital
- Rochester: Mayor Evans introduces partners in City's Neighbors In Action (NIA) effort
- Integris Composites Debuts its Concealed Response Shield System; 'Situational Armor' for Active-Shooter Responders When Seconds Count
Mudrick also highlights Remark's potential in the AI industry and compares it to their successful investment in AMC Entertainment. "Remark perfectly fits our investment thesis for finding attractive risk-reward opportunities," he adds.
Kai-Shing Tao, Chairman and CEO of Remark Holdings, expresses gratitude towards Mudrick Capital for working with them while they built their business. "Together, we turned our financial challenges into opportunities," he says. Tao also mentions their plans to re-list on a national exchange in the fall as they reduce their debt and increase shareholder equity.
Mudrick Capital Management L.P. is an SEC-registered investment management firm specializing in stressed and distressed credit investing in the U.S. and European credit markets. With offices in New York and London, they manage approximately $3.3 billion on behalf of global institutional investors. The firm focuses on opportunities across the corporate capital structure to provide equity-like returns with credit-like risk and volatility.
More on Nyenta.com
- FOLKS Expands With The Launch Of FOLKS USA
- Ropes & Gray Enhances M&A Team in New York with Addition of David Harris
- Yonkers: MAYOR SPANO CALLS ON ALL YONKERS COUPLES CELEBRATING THEIR 50TH, 55TH & 60TH WEDDING ANNIVERSARIES
- Safe Night Partners With Simsi To Offer A New Certification For Proactive Alliance With Rutgers University
- Westchester Soccer Club Adds Three More Players For Their Inaugural Season in USL League One
Founded in 2009, Mudrick Capital has deployed over $12 billion across 300 investments. Led by Chief Investment Officer Jason Mudrick, the team has over 180 years of combined investing experience and has served on over 200 boards of directors and creditors' committees.
Remark Holdings, Inc. is an AI-powered analytics platform that provides valuable insights to video feeds through its integrated suite of AI tools. Their solutions are GDPR-compliant and CCPA-compliant, serving government agencies, hospitality, public safety, retail, and transportation sectors. The company has established sales and marketing relationships with industry giants such as Intel, Microsoft, Nvidia, and Oracle.
With headquarters in Las Vegas and operational offices in New York and international offices in London, Remark Holdings is well-positioned for growth in the AI industry. For more information about the company, please visit their website at www.remarkholdings.com.
Filed Under: Business
0 Comments
Latest on Nyenta.com
- FamBam Foods® Expands Healthy Snack Portfolio with Launch of Caulitos®
- Los Angeles Fires: Supporting Recovery Without Psychotropic Drug Risks
- MTCH DEADLINE: MTCH Investors Have Opportunity to Lead Match Group, Inc. Securities Fraud Lawsuit Filed by The Rosen Law Firm
- A.N. Publishing Debuts Logo For The Upcoming Platform 'The Ambony'
- HealthGuard Insurance Launches Revolutionary Online Platform for Life Insurance Shopping
- Ancient Earth Mysteries Documentary
- NEW Podcast featuring Rick DellaRatta receives letter of praise from United Nations UNHRC
- "Global Accreditation Failures: How the Wuhan Lab Certification Exposed Systemic Weaknesses and Paved the Way for COVID-19"
- Johnny Mercer Musical Premiering At Don't Tell Mama
- Butterbrain To Release Video For The Song "Hold Tight"
- Get to know Dr. Raphael E. Cuomo, PhD, Professor and Scientist at the University of California, San Diego
- Ohio Medicare (Plan Brian C. Moore), has once again been distinguished as Ohio's Top-Ranked and Number-One-Rated "Best Choice" Medicare Expert!
- $HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of 180 Degree Capital Corp. - TURN
- New Rochelle: Applications Sought for Planning Board
- Rochester: City Set to Lease Prime Lake View Location
- Rochester: City Hall, other administrative offices to close for Martin Luther King Jr. Day
- Rochester: Avenue D Neighborhood crime prevention roundtable
- Manchester Insurance Announces Best Rates in Florida for Home Insurance
- Apples & Oranges Public Relations Announces Upcoming Rebrand in Celebration of 15 Years
- WOLF Deadline: WOLF Investors Have Opportunity to Lead Wolfspeed, Inc. Securities Fraud Lawsuit