Eastside Distilling (NASDAQ: EAST)Aims for Financial Turnaround: Debt Restructuring Agreement Sparks 149% Gain in Share Value
Eastside Distilling, Inc. (NASDAQ: EAST), shares gain 149% as the company announced it signed a non-binding term sheet with its main debt holders. If finalized, this agreement would convert a significant portion of the outstanding debt into equity. By doing so, the company aims to reduce interest expenses and meet the Shareholders Equity Rule required
Source: microcapdaily.com