{"id":88250,"date":"2009-10-22T18:15:41","date_gmt":"2009-10-22T10:15:41","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/numerex-cuts-debt-in-half\/"},"modified":"2009-10-22T18:15:41","modified_gmt":"2009-10-22T10:15:41","slug":"numerex-cuts-debt-in-half","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/numerex-cuts-debt-in-half\/","title":{"rendered":"Numerex Cuts Debt in Half"},"content":{"rendered":"<p>[10-22-09] Machine-to-machine product developer <strong>Numerex Corp.<\/strong> has cut its outstanding debt from $4 million to $2 million, CFO Alan Catherall said in an Oct. 21 statement.  Catherall said Numerex repaid $1 million of non-convertible and $1 million of converted outstanding debt. As a result, the company issued an aggregate of 215,054 shares of stock on Oct. 20. Numerex\u2019s total debt now stands at $2 million.<br \/>\n&nbsp;&nbsp; &nbsp;&#8220;Our capital structure has significantly improved during the past quarter after we cumulatively reduced the company\u2019s debt from $9 million to $2 million. Similar to the two prior transactions, this debt reduction is accretive, was not subject to any pre-payment penalties and was achieved with only part cash since $1 million of debt was converted into equity,&#8221; Catherall said.<br \/>\n&nbsp;&nbsp; &nbsp;Numerex will write off $120,000 in unamortized financing costs related to the transaction.<\/p>\n<h2>Related Stories-<\/h2>\n<p>\n<b class=\"titlelink\" style=\"font-size: 12px; \">SDN Global Releases PSAT Emergency Management Product Suite<\/b>&nbsp;&nbsp;&nbsp;Satellite Today&nbsp;&nbsp;&nbsp;September 2, 2009<br \/>\n[09-02-09] SDN Global has unveiled its satellite public safety access terminal (PSAT), which aims to more efficiently connect 911 callers to their public safety answering point, the company announced Sept. 1.<\/p>\n<p><b class=\"titlelink\" style=\"font-size: 12px; \">Numerex Forms Technology Alliance With Broadband Home Management Provider<\/b>&nbsp;&nbsp;&nbsp;Satellite Today&nbsp;&nbsp;&nbsp;July 3, 2009<br \/>\n[07-03-09] Numerex Corp., a provider of secure machine-to-machine satellite network services and solutions, signed a technology alliance with iControl Networks, a broadband home management solution that delivers interactive home\u2026<\/p>\n<p><b class=\"titlelink\" style=\"font-size: 12px; \">Numerex Teams With Savi to Develop First Hybrid Tracking System<\/b>&nbsp;&nbsp;&nbsp;Satellite Today&nbsp;&nbsp;&nbsp;February 20, 2009<br \/>\n[02-20-09] Numerex Corp. has established a technology partnership with Savi, a Lockheed Martin company, to co-develop the first asset and shipment-monitoring device that combines global satellite positioning, active radio frequency\u2026<\/p>\n<p>&nbsp;<\/p>\n<p><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[10-22-09] Machine-to-machine product developer Numerex Corp. has cut its outstanding debt from $4 million to $2 million, CFO Alan Catherall said in an Oct. 21 statement. Catherall said Numerex repaid $1 million of non-convertible and $1 million of converted outstanding debt. As a result, the company issued an aggregate of 215,054 shares of stock on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-88250","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/88250"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=88250"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/88250\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=88250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=88250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=88250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}