Kingstone Companies (KINS) just unveiled an update.
Kingstone Companies, Inc. has struck a deal with its noteholders to exchange $19.95 million worth of existing high-interest notes due in 2024 for new notes valued at $14.95 million, with a higher interest rate and 2026 maturity, plus $5 million in cash. Additionally, the company has extended the expiration date for warrants to purchase common stock until 2026. This financial maneuver, announced via a press release, aims to restructure debt and provide the company with a more manageable repayment schedule.
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