Brief: NXT-ID Announces Letter Of Intent For $16.5 Mln Long-Term Debt Refinancing

LogicMark

15/01/2019 13:08

Jan 15 (Reuters) - NXT-ID Inc  NXTD.O :
    * NXT-ID ANNOUNCES LETTER OF INTENT FOR $16.5 MILLION
LONG-TERM
DEBT REFINANCING
    * NXT-ID INC - PROCEEDS FROM TERM LOAN TO REFINANCE EXISTING
LOAN
FACILITY AND TO PAY FOR ACCRUED INTEREST AND COSTS ASSOCIATED
WITH REFINANCING
    * NXT-ID INC - TERM LOAN HAS MATURITY DATE OF THREE YEARS
AFTER
CLOSING
    * NXT-ID INC - TERMS OF LOI REQUIRE CO TO COMPLETE SPIN-OFF
OF ITS
PAYMENT DIVISION WITHIN 15 DAYS OF CLOSING TERM LOAN
    * NXT-ID INC - ANTICIPATES CLOSING TERM LOAN WITHIN 45 DAYS
OF
SIGNING OF LOI, WHICH OCCURRED ON JANUARY 10, 2019

Source text for Eikon:  ID:nPn8hXT3Ja 
Further company coverage:  NXTD.O 

 ((Reuters.Briefs@thomsonreuters.com;))