House rejects Republican immigration bill backed by Trump

House rejects Republican immigration bill backed by Trump

MoviePass majority owner Helios & Matheson’s stock falls after company issues $164 million of convertible debt

Shares of Helios & Matheson Analytics Inc. are down 14% in Wednesday trading after the MoviePass majority owner said in a filing that it has issued $164 million in convertible debt as well as 20,500 shares of series A preferred stock. The company said these resulted in an “aggregate cash payment” to HMNY of $20.5 million. The convertible notes will mature in three years, unless they are converted or redeemed earlier. HMNY also said in the filing that it received a letter from the Nasdaq’s listing qualifications department last week stating that the company’s bid price has been below the $1 per share required to be listed on the Nasdaq. The company said this letter “has no immediate effect on the listing” of its stock, but that it has until mid-December to get back in compliance with the Nasdaq’s rule. If the company completes a reverse stock split, which it has sought shareholder approval for, the reverse split must take place no more than 10 business days before December 18. The stock is down 94% in the past 12 months, to 21 cents a share, while the S&P 500 has gained 4.9%.

Read on Market Watch


Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About