The latest announcement is out from Model N (MODN).
Model N completed a significant merger on June 27, 2024, resulting in changes to its convertible notes and stock structure. Holders of 2025 and 2028 Convertible Notes now have the right to convert their holdings into cash rather than stock, in light of the merger being classified as a Fundamental Change. Additionally, Model N established a new credit agreement providing substantial term and revolving loan facilities. Furthermore, the company’s common stock has been delisted from the NYSE following the merger, and all outstanding shares were converted into a right to receive a set cash consideration, ending the stockholders’ equity in Model N. The special meeting of stockholders saw approval for both the merger and executive compensation proposals related to the merger.
For an in-depth examination of MODN stock, go to TipRanks’ Stock Analysis page.
