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Article: Numerex Corp Retires Remaining Structured Debt.
- Article from:
- PR Newswire
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, Nov. 4 /PRNewswire-FirstCall/ -- Numerex Corp. , a leading single source provider of secure machine-to-machine (M2M) products and services, announced today that it has repaid all but $500 thousand of its remaining $2 million of long-term structured debt, the balance of which is scheduled to be paid on January 29, 2010. Part of the transaction included a conversion of $1.047 million of its debt into an aggregate of 225,296 shares of Class A Common Stock.
"We are pleased to report that all, but a small portion, of our outstanding structured debt has been repaid," stated Alan Catherall, CFO of Numerex. "This final transaction significantly strengthens the ...