Shares of YY Group Holding Limited (NASDAQ:YYGH) are trading sharply higher Wednesday afternoon after the company took steps to eliminate future equity overhangs.
YY Group Holding stock is surging to new heights today. What’s behind YYGH gains?
Debt Agreement Scraps $5.94 Million Tranche and All Warrants
The rally follows a late Tuesday announcement that YY Group executed a Supplemental Agreement with the holder of its convertible promissory note, effective Aug. 20.
Under the terms of the agreement, the company officially canceled the $5.94 million second tranche of its convertible note offering originally structured in February.
