RALEIGH – Digital apps developer MobileSmith Health says it has “eliminated all its $53 million of non-bank debt” in exchange for equity.
The company has a market cap of just under $100 million, according to OTCBB figures where its stock (MOST) is traded.
The latest chart shows a share value of $3.50.
“The exchange of this debt better positions MobileSmith Health for both the short and long term financially,” said Jerry Lepore, CEO for MobileSmith Health, in a statement. “This transaction further demonstrates the increased confidence of our investors, their continued support of this company’s direction, and their trust in our innovative team and our comprehensive health technology ecosystem that is helping change healthcare one life at a time.”
