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The latest update is out from Mitesco ( (MITI) ).
The Company is actively restructuring its financial obligations, converting over $12 million into restricted common stock and exchanging $13 million of senior securities for non-interest bearing preferred stock. This strategic move aims to improve its balance sheet and attract investment by shifting focus to data center operations and cloud computing services. The restructuring includes significant risk for preferred stockholders, limited to institutional investors, and aims to make shares tradable within 120 days. The Company anticipates substantial gains if the restructuring succeeds, despite the inherent risks and uncertainties.
For an in-depth examination of MITI stock, go to TipRanks’ Stock Analysis page.
