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Cosmos Holdings completes $550K debt-to-equity conversion

The conversion rate came to $7.50 per share, nearly double the company’s Monday close

Pills being poured into a bottle
Cosmos Holdings is a Chicago-based wholesaler that distributes pharmaceuticals, food supplements and medical devices

Cosmos Holdings Inc (OTCMKTS:COSM), the international pharmaceutical wholesaler, completed a $550,000 debt-to-equity conversion.

The conversion rate came to $7.50 per share, nearly double the company’s Monday close.

Its stock ticked down less than 1% Tuesday to $3.80.

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

The conversion will repay a loan from CEO Grigorios Siokas by providing him with 73,334 shares.

“In the first half of 2019, Cosmos has taken substantial steps to strengthen its balance sheet and improve cash-flow coverage,” Siokas said. “Debt-to-equity conversions now total $1.05 million in Q2 2019 and $2.38 million over the last 12 months,”

Cosmos Holdings is a Chicago-based wholesaler that distributes pharmaceuticals, food supplements and medical devices to a network of 160 clients in 16 countries.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Cosmos Holdings Inc

Price: 2.5 USD

OTCMKTS:COSM
Market: OTCMKTS
Market Cap: $32.72 m
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