La Rosa Holdings announces debt restructuring

La Rosa Holdings has entered into an amendment with its noteholder to restructure debt under three outstanding notes issued to the holder in February, April, and July 2024. As part of the amendment, the Company agreed to repay to the holder $200,000 of the debt under the notes, and all principal and interest payments under the notes have been deferred until February 1, 2025. Starting February 1, 2025, the Company will pay monthly payments to the holder, which shall be first applied to the July note until it is repaid in the entirety, and then to the April note until it is repaid in the entirety, following which such payments shall be applied to the February note. Additionally, maturity dates under all three notes were extended to August 1, 2025, and the holder agreed not to effectuate any conversions of the notes unless the Company fails to comply with the amendment or there is an event of default under the notes. The Company believes that this strategic restructuring strengthens the Company’s financial position by reducing total debt under the notes by approximately 9.5%, providing greater financial flexibility to pursue growth initiatives and long-term objectives.