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Southland Holdings ( (SLND) ) has provided an update.
Southland Holdings, Inc. announced the conversion of $20 million in promissory notes owed to its management into common stock, issuing 5,830,899 shares at a price of $3.43 per share. This move, approved by the company’s Audit Committee and Board of Directors, aims to strengthen Southland’s balance sheet and demonstrates management’s confidence in the company’s long-term value potential, with the transaction conducted via a private placement exempt from registration under the Securities Act.
More about Southland Holdings
Southland Holdings, Inc. is a leading provider of specialized infrastructure construction services, with a history dating back to 1900. The company is one of the largest infrastructure construction firms in North America, serving diverse markets such as bridges, tunneling, communications, transportation facilities, marine, steel structures, water and wastewater treatment, and water pipelines. Headquartered in Grapevine, Texas, Southland has extensive experience in infrastructure projects worldwide.
YTD Price Performance: -33.53%
Average Trading Volume: 58,170
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $165M
For a thorough assessment of SLND stock, go to TipRanks’ Stock Analysis page.
