NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Raadr, Inc. now doing business as Telvantis (OTC PINK: RDAR) ("Telvantis" or the "Company") is pleased to announce that it has successfully settled all outstanding convertible debt as per the terms outlined in its executed Merger Agreement. This strategic milestone positions the Company to pursue growth initiatives and acquisition opportunities with a strengthened financial foundation.
"This marks a critical step in establishing a more robust and predictable financing structure to support Telvantis' long-term vision," said Daniel Gilcher, CFO of Telvantis. "Moving forward, all new financing will be derived from equity or instruments with fixed-price features, eliminating the need for floorless convertible securities and enhancing shareholder value. These future financings will be fundamental in our organic growth and synergistic acquisition strategy."
Last October, Mexedia S.p.A. SB, a leading telecommunications and technology company listed on Euronext Growth in Paris, completed the divestiture of its U.S. and Irish operational units in a reverse-merger transaction with U.S.-based Raadr, Inc., which is now doing business as Telvantis. Mexedia DAC and Mexedia Inc. are now wholly-owned subsidiaries of the Company.
The Telvantis Board of Directors has reaffirmed both its commitment to driving sustainable growth through strategic planning and disciplined capital management and its determination not to pursue a reverse stock split of its common stock, based on its internal projections and associated valuations that indicate that the company continues to be significantly undervalued.
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Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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