BluePhoenix Solutions Amends Refinancing Agreement to Allow Conversion of Loan into Equity Based on 30 Trading Days Average Price on NASDAQ
BluePhoenix Solutions (NASDAQ: BPHX) announced today that it has entered into an amendment of an agreement to refinance a $5 million loan.
On March 20, 2012, the Company announced that it entered into a set of agreements with its three major shareholders, for assignment of a $5 million loan extended to the Company by a third party to the three major shareholders, amendment of the terms of such loan and agreement to raise a debt of $0.5 million of new debt through a bridge loan.
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