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Daktronics Announces Conversion of $25 Million Convertible Promissory Note into Common Stock
Contract Type
agreement
BrookingsManufacturingE CommerceDescription
Daktronics, Inc. has announced the intention to convert an initial $7.0 million in face value of the $25 million senior second lien secured promissory note into approximately 1.1 million shares of the Company’s common stock. The Board also intends to deliver notice of the conversion on November 11, 2024, with a conversion date of December 3, 2024. The remainder of the Convertible Note will be converted over the next several months in tranches of up to $7 million in face value every 30 days.