Yesterday, ShopNBC announced the restructuring and extension of its $44.3 million payment obligation on preferred stock to GE, which was scheduled to mature this spring. As a result of the new agreement, GE will now receive: an upfront cash payment of $3.4 million, warrants to purchase shares of ShopNBC’s common stock at $0.75 per share, and 4.9 million shares of a new series of non-convertible, redeemable, preferred stock. ShopNBC Press Release Feb. 25, 2009
GE Throws ShopNBC a Five-Year Lifeline
DRTV Retailer, Investors
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Feb 262009
