Stronghold Digital Mining Announces Exchange Agreement to Extinguish Convertible Notes and Strengthen Balance Sheet
NEW YORK, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ:SDIG) ("Stronghold", or the "Company") announced that it has entered into an exchange agreement (the "Exchange Agreement") with the holders (the "Noteholders") of the Company's Amended and Restated 10% Notes (the "Notes"), whereby all of the approximately $17.9 million of outstanding principal amount of debt and interest, which would accrue through maturity under the Notes, will be extinguished in exchange for shares of a new series of convertible preferred stock (the "Series C Preferred Stock") with face value of approximately $23.1 million. The Series C Preferred Stock will be convertible into shares of t
