Core Viewpoint - Eightco Holdings Inc. announced a 3.1 million in new financing to support the growth plans of its subsidiary, Forever 8, through 2025 [9][10]. Group 1: Financial Transactions - The company completed a series of transactions to create new Series A and Series C promissory notes, retiring the old debt and resulting in an aggregate of 1.6 million of accrued interest into about 485,381 shares of common stock at $3.23 per share, and deferring interest payments until October 30, 2025 [1]. Group 2: Business Model and Growth Strategy - Forever 8 specializes in inventory and cash flow management solutions for e-commerce businesses, leveraging debt financing to enhance purchasing power and drive revenue growth [4]. - The company aims to secure a larger long-term facility to further fuel growth in 2025 [5]. - Eightco is focused on growth through its existing subsidiaries and is actively seeking new opportunities for strategic acquisitions in the e-commerce technology sector [6]. Group 3: Market Demand - The CEO, Paul Vassilakos, indicated that there is significant demand in the refurbished Apple products market and among Amazon sellers, suggesting that all capital raised will be immediately utilized [10].
Eightco Completes Non-Dilutive Capital Raise and Second Debt Extension