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Monday, July 31, 2023 4:30:07 PM
Third, the Company has agreed to sell the subsidiary that owns the Canadian property to its senior lender in exchange for all of the senior lender’s preferred shares, accrued and unpaid dividends, and the assumption of the property mortgage. The Company will emerge from this transaction with a greatly streamlined cap table, an improved balance sheet, and a new focus on an “asset light” business model.
This was their best performing asset. The treatment center brings in peanuts. Do you even bother reading the filings?
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