NeoMedia Technologies may restructure, reduce its debt by $10 million

Primary investor YA Global conditionally agrees to restructure loans

By Devika Patel

Knoxville, Tenn., Aug. 27 - NeoMedia Technologies Inc. it has reached a preliminary agreement with its primary investor, YA Global Investment, LP, to restructure and reduce its debt by $10 million.

The loan agreements with YA will be restructured into six agreements, reduced from 32 agreements.

The debt restructuring is conditional upon the company obtaining approval for the proxy statement surrounding Proposal 5 and 6. If Proxy 5 and 6 are not approved, YA is not willing to move forward with negotiating the debt restructure and debt forgiveness.

NeoMedia is a technology company based in Fort Myers, Fla.

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