Loan & DebtJun 1, 2026, 08:02 AM
zSpace Converts Over $12M Debt to Equity, Strengthens Financials
AI Summary
zSpace, Inc. announced it has entered into agreements with two lenders, Fiza Investments Limited and 3i, LP, to convert over $12 million in outstanding debt into equity. These transactions eliminate significant debt obligations, with Fiza converting approximately $10 million and 3i converting approximately $2 million, both at 150% of the market price. The move meaningfully strengthens the Company's financial position, reducing total debt to approximately $5 million and allowing zSpace to focus on delivering innovative learning experiences.
Key Highlights
- zSpace converted over $12 million in outstanding debt into equity.
- Fiza Investments Limited converted approximately $10 million in debt ($7.2M principal, $2.8M interest).
- 3i, LP converted approximately $2 million in outstanding debt.
- Debt was converted into common and preferred stock at 150% of market price.
- Approximately $5 million in total debt remains on zSpace's balance sheet.
- One of 3i's senior secured convertible notes was fully retired.
- 3i's remaining note was amended to include a nine-month non-conversion period.
Price Impact
More from ZSPC