Charles & Colvard Ltd. has announced a significant financial transaction involving the conversion of debt into equity. As part of a previously established Convertible Secured Note Purchase Agreement with Ethara Capital LLC, the company has converted $200,000 of principal and accrued interest into approximately 1.35 million shares of its common stock. This conversion was executed at a price of $0.1478 per share, reflecting the 30-day volume weighted average price of the company's stock at the time of the agreement's execution. This move signifies Charles & Colvard's strategic efforts to manage its financial obligations and enhance its capital structure.
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