Atlas Financial Holdings Strikes Debt-Clearing Share Transfer Deal

Atlas Financial Holdings (AFHIF) has released an update to notify the public and investors about an entry into a material definitive agreement.

Atlas Financial Holdings, Inc. and its subsidiary entered a Collateral Acceptance Agreement with STAT Risk Management, Inc. and Sheridan Road Partners, LLC, transferring shares of its indirect subsidiaries to SRMI. This was in exchange for clearing about $12.7 million of debt under a pre-existing Credit Agreement. The Company also guaranteed the performance of its subsidiary’s obligations, facilitating continued access to necessary resources for its ongoing responsibilities.

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For a comprehensive understanding of the announcement, you can read the full document here.