Proactive Investors - Run By Investors For Investors

Cosmos Holdings completes $500K debt-to-equity conversion

The effective conversion rate is $7.50 per share, 117% higher than the $3.45 closing price of Cosmos’ shares Thursday
drugs
The Chicago-based company conducts business in 16 countries

Cosmos Holdings Inc (OTCQB:COSM) announced Friday it has completed a $500,000 debt-to-equity conversion.

The effective conversion rate is $7.50 per share, 117% higher than the $3.45 closing price of Cosmos’ shares Thursday, according to a statement.

READ: Cosmos Holdings posts soaring revenue in 2018 as it launches new brand of food supplements

The Chicago-based international pharmaceutical company said the conversion will pay for a $500,000 loan to the company by CEO Grigorios Siokas. He will get 66,667 company shares as a result.

Cosmos now will have a total of 13,154,145 outstanding shares of stock.

“The conversion strengthens our balance sheet and improves shareholders’ equity,” Siokas said. “We believe that the $7.50 conversion rate signals confidence in the value and future prospects of the company.”

Cosmos is a pharmaceutical wholesaler with offices and warehouses in Greece and the UK. The company conducts business in 16 countries.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

View full COSM profile View Profile

Cosmos Holdings Inc Timeline

Related Articles

A double helix and a medical person
March 06 2019
Leronlimab, according to the company, is an antiviral agent candidate with fewer side effects, lower toxicity and less frequent doses than daily HIV therapies now in use
Enzymes under a microscope
April 28 2019
The Florida company applies its proprietary C1 gene expression platform to speed up the development of biologic vaccines, drugs at flexible commercial scales
Oncoprex
October 17 2018
The biotech was founded by an investment group led by scientists and driven by a no-nonsense CEO whose stake is more than just business as usual
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use