"NextPlat Corp, Messrs. Fernandez and Barreto, and certain other investors will purchase $2.3 million of outstanding convertible debt from an existing holder. In connection with debt purchase, NextPlat Corp and the other purchasers agreed to a fixed conversion price of $0.02 per share of common stock and removal of the blocker. NextPlat Corp and the other purchasers also agreed to reduce the interest rate on the purchased debt from 10% to 5% per annum."
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