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SMC Entertainment (SMCE) has issued an announcement.
SMC Entertainment, Inc. has successfully reduced its debt by retiring $516,004 in convertible promissory notes, which will be exchanged for 55,000 newly created Series D Preferred Shares. This strategic financial maneuver is set to appear in the company’s third-quarter financials for 2024. These preferred shares will convert to common stock at favorable terms after two years, subject to SEC Rule 144 restrictions. This move is part of the company’s forward-looking statements that involve inherent risks and uncertainties, as disclosed in their SEC filings.
For a thorough assessment of SMCE stock, go to TipRanks’ Stock Analysis page.
