ShopNBC Announces Agreement to Restructure GE Preferred Stock
ShopNBC (NASDAQ: VVTV), the premium
lifestyle brand in electronic retailing, today announced an agreement with
GE to restructure and extend its $44.3 million payment obligation under the
Series A Redeemable Convertible Preferred Stock, currently held by GE and
scheduled to mature in the spring of 2009.
As part of the agreement, GE agreed to exchange all of its Series A
Redeemable Convertible Preferred Stock for the following:
-- An upfront cash Read the rest of this entry »