Medialink pays out $525,000 to settle complaint, repurchase warrants

By Devika Patel

Knoxville, Tenn., July 27 - Medialink Worldwide Inc. negotiated an agreement with the former holders of its subordinated debentures on July 27, according to an 8-K filed Monday with the Securities and Exchange Commission.

As previously reported, the company paid $1.59 million to repurchase its $2.65 million in outstanding debentures on June 30.

Subsequent to this, the investors notified the company that they would file a complaint seeking to block the company's planned merger with the NewsMarket, Inc. and TNM Group Inc., which was arranged on July 1.

On July 27, the company paid $515,000 to the investors in exchange for a general release of all claims related to the debenture repurchase and the merger.

In addition, the company paid $10,000 to repurchase 536,729 warrants from the investors.

Based in New York, Medialink is a multimedia communication services company

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