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Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million and to Eliminate Institutional Loans

Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million and to Eliminate Institutional Loans
December 24, 2020 14:00 ET
| Source:
Borqs Technologies, Inc.
Borqs Technologies, Inc.
Beijing, CHINA
SANTA CLARA, Calif., Dec. 24, 2020 (GLOBE NEWSWIRE) Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. (Nasdaq: LMFA), in which LMFA is committed to purchase up to be approximately $18 million of debt in tranches, which when completed will eliminate substantially all of the debt with the Company’s senior lender. LMFA will convert the purchased deb ....

United States , Sandra Dou , Exchange Commission , Lm Funding America Inc , Borqs Technologies Inc , Securities Act , Borqs Technologies , Android Wear Licenses , Looking Statements , Risk Factors , ஒன்றுபட்டது மாநிலங்களில் , சாண்ட்ரா தௌ , பரிமாற்றம் தரகு , ல்ம் நிதி அமெரிக்கா இன்க் , பத்திரங்கள் நாடகம் , அன்றொஇட் அணிய உரிமங்கள் , பார்க்கிறது அறிக்கைகள் , ஆபத்து காரணிகள் ,

Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million ...

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million .
Borqs Technologies, Inc.December 24, 2020 GMT
SANTA CLARA, Calif., Dec. 24, 2020 (GLOBE NEWSWIRE) Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. (Nasdaq: LMFA), in which LMFA is committed to purchase up to be approximately $18 million of debt in tranches, which when completed will eliminate substantially all of the debt with the Company’s senior lender. LMFA will convert the purchased debt into common shares of the Company, pursuant to a court ord ....

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