Daktronics Announces Intention to Convert $25 Million Convertible Promissory Note into Common Stock
Daktronics, Inc. (DAKT)
Last daktronics, inc. earnings: 5/29 07:30 am
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investor.daktronics.com
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Source: GlobeNewswire
BROOKINGS, S.D., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Daktronics, Inc. (“Daktronics” or the “Company”) (NASDAQ-DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today announced that, after careful deliberation, the Board of Directors (the “Board”) has determined that it is in the best interests of the Company and its common shareholders to exercise the Company’s right to convert an initial $7.0 million in face value of the $25 million senior second lien secured promissory note (the “Convertible Note”) held by Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox”) into approximately 1.1 million shares of the Company’s common stock. The Board intends to deliver to Alta Fox notice of the conversion on November 11, 2024, with a conversion date of December 3, 2024. The Company intends to convert the remainder of the Convertible Note over the next several months, in
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Analyst Actions
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Sec Filings
- 11/20/24 - Form 8-A12B/A
- 11/20/24 - Form 8-K
- 11/12/24 - Form SC
- DAKT's page on the SEC website