<a href="https://laohu8.com/S/NAMM">Namib Minerals</a> Announces $3.5 Million Debt Repayment Agreement With Option for Share-Based Payments
Namib Minerals has announced the issuance of a $3.5 million promissory note to Cohen & Company Securities, LLC as part of the company's debt repayment strategy following its recent business combination. Under the terms of the agreement dated September 30, 2025, Namib Minerals will make monthly payments over a 12-month period, with the first eleven payments set at $300,000 each and the final payment at $200,000. The company has the option to settle these payments in either cash or ordinary shares. If ordinary shares are issued, the price will be determined as the lower of 95% of the previous day's Nasdaq closing price or the average daily VWAP over the five trading days preceding the payment. The agreement also grants resale registration rights to Cohen & Company Securities for any shares received, with restrictions on daily sales volume.
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