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IOU Financial will repurchase $1.9 million convertibles at discount
By Wendy Van Sickle
Columbus, Ohio, June 16 – IOU Financial Inc. is repurchasing $1.9 million of its convertible debentures at a discount, according to a news release.
As announced on April 8, IOU sought to repurchase the debentures under repurchase agreements to be entered into with individual debenture holders and to close the repurchases by no later than June 30.
The move to repurchase the debentures came after a year of strategic initiatives as part of IOU's pandemic resilience plan.
The Montreal company is an online lender for small businesses in the United States.
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