Splash Beverage Group Inc. has announced the conversion of approximately $12.67 million in outstanding promissory notes into newly issued preferred equity. This strategic move is part of the company's initiative to strengthen its capital structure and comply with NYSE American's shareholder equity standards. The exchange aims to enhance Splash Beverage Group's balance sheet by reducing interest expenses and increasing shareholder equity. The newly issued preferred shares come with a 12% cumulative dividend and offer the possibility of future conversion to common stock, subject to certain conditions. This development reflects the company's ongoing efforts to regain compliance with exchange requirements and improve financial flexibility.
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