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Genesis Holdings Debt-to-Equity Restructuring FAQ
Genesis Holdings completed a debt-to-equity restructuring converting two-thirds of outstanding convertible notes into Series D Preferred Stock, eliminating toxic conversion terms and improving its balance sheet from a deficit to positive equity of ~$901,550.
Genesis Holdings announced the completion of partial debt exchange agreements converting two-thirds of each holder's outstanding convertible promissory notes into newly designated Series D Preferred Stock.
It eliminates conversion discounts, price-based kickers, and other dilutive features, reducing the company's cost of capital and removing a significant overhang for shareholders.
Total stockholders' equity improved from a deficit to approximately $901,550, with total liabilities reduced to about $42,745.
Oscar Brito is the CEO of Genesis Holdings.
The exchange was completed as of July 6, 2026, marking the finalization of Phase I of the balance sheet restructuring initiative announced in May 2026.
Series D Preferred Stock is a newly designated class of preferred stock that was issued to note holders in exchange for two-thirds of their convertible debt.
Two-thirds of each holder's outstanding convertible promissory notes were converted into shares of Series D Preferred Stock, eliminating toxic conversion terms like conversion discounts and price-based kickers.
The pro forma total assets are $944,296, total liabilities are $42,745, and total stockholders' equity is $901,550.
It removes the dilutive overhang from convertible notes, potentially reducing future dilution and improving the company's capital structure.
The press release was distributed by NewMediaWire and is available on their website at https://www.newmediawire.com.