Verde Bio buys back convertibles, repays term loans

By Rebecca Melvin

Concord, N.H., April 27 – Verde Bio Holdings Inc. has bought back its convertible debt and repaid term loans, making a full settlement of all outstanding debt, according to a company news release on Tuesday.

The company had repaid more than $350,000 in convertible debt, according to an April 19 letter to shareholders.

The repayment stops any further conversion of convertibles into common stock, the company noted, and was achieved through early conversions, payoffs and a settlement agreement with Verde’s largest noteholder.

“Verde is focused on building a diversified, revenue producing portfolio of high-quality assets. The settlement of all debt allows the company to move forward with a strong balance sheet with no debt which provides a much more stable foundation for growth, value creation and financial flexibility,” Scott Cox, Verde’s chief executive, stated in the release.

The Frisco, Tex.-based company invests in mineral and royalty interests on onshore oil and gas properties.

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