Slinger Bag (CNXA) has released an update.
Connexa Sports Technologies Inc. has secured additional funding from institutional investors, increasing their debt through a note up to $3 million and adjusting the terms of their financial agreements. The company has issued new warrants and modified existing ones, with conversion prices set according to Nasdaq rules. They’ve also negotiated a waiver for certain defaults and agreed on a potential conversion of the debt into nearly 10 million shares of common stock. Additionally, they’ve put measures in place to ensure a minimum payout to lenders and have committed to registering these shares promptly with the SEC, all aimed at strengthening their financial position and investor confidence.
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