/C O R R E C T I O N -- Remark Holdings, Inc./
Remark Holdings (OTCQX: MARK), a leading AI solutions provider, has reached an agreement with Mudrick Capital Management L.P. to exchange existing non-convertible notes for convertible debentures. This resolves Remark's previous default issues and transforms its balance sheet. The company is poised to capitalize on its AI future, with plans to list its AI-based analytical solutions on Microsoft's Azure Marketplace and Oracle's Cloud Marketplace.
CEO Kai-Shing Tao expressed gratitude to Mudrick Capital for their collaboration, highlighting the potential for rapid global customer base expansion. Jason Mudrick, founder of Mudrick Capital, noted that the agreement allows Remark to meet obligations faster while executing their promising AI business plan. This development is expected to accelerate Remark's re-listing on a national exchange.
Remark Holdings (OTCQX: MARK), un importante fornitore di soluzioni AI, ha raggiunto un accordo con Mudrick Capital Management L.P. per scambiare le attuali note non convertibili con obbligazioni convertibili. Questo risolve i precedenti problemi di default di Remark e trasforma il suo bilancio. L'azienda è pronta a capitalizzare sul suo futuro nell'AI, con piani per elencare le sue soluzioni analitiche basate su AI nel Microsoft Azure Marketplace e nell'Oracle Cloud Marketplace.
Il CEO Kai-Shing Tao ha espresso gratitudine a Mudrick Capital per la loro collaborazione, sottolineando il potenziale per un'espansione rapida della base clienti a livello globale. Jason Mudrick, fondatore di Mudrick Capital, ha osservato che l'accordo consente a Remark di soddisfare gli obblighi più rapidamente mentre realizza il loro promettente piano aziendale nell'AI. Questo sviluppo si prevede acceleri il ri-elenco di Remark su una borsa nazionale.
Remark Holdings (OTCQX: MARK), un proveedor líder de soluciones de IA, ha llegado a un acuerdo con Mudrick Capital Management L.P. para intercambiar notas no convertibles existentes por bonos convertibles. Esto resuelve los problemas de incumplimiento previos de Remark y transforma su balance. La empresa está lista para capitalizar su futuro en IA, con planes para listar sus soluciones analíticas basadas en IA en el Mercado de Azure de Microsoft y el Mercado en la Nube de Oracle.
El CEO Kai-Shing Tao expresó su agradecimiento a Mudrick Capital por su colaboración, destacando el potencial de expansión rápida de la base de clientes a nivel global. Jason Mudrick, fundador de Mudrick Capital, señaló que el acuerdo permite a Remark cumplir sus obligaciones más rápido mientras ejecuta su prometedor plan de negocios en IA. Se espera que este desarrollo acelere el re-listado de Remark en una bolsa nacional.
Remark Holdings (OTCQX: MARK), 선도적인 AI 솔루션 제공업체는 Mudrick Capital Management L.P.와 기존 비전환 채권을 전환 가능 채권으로 교환하기로 합의했습니다. 이는 Remark의 이전 디폴트 문제를 해결하고 재무 상태를 혁신합니다. 이 회사는 AI 기반의 미래를 활용할 준비가 되어 있으며, Microsoft의 Azure Marketplace와 Oracle의 Cloud Marketplace에 AI 기반 분석 솔루션을 목록화할 계획입니다.
CEO인 Kai-Shing Tao는 Mudrick Capital에 대한 협력에 감사의 뜻을 전하며, 글로벌 고객 기반의 빠른 확장 가능성을 강조했습니다. Mudrick Capital의 창립자인 Jason Mudrick는 이 협정이 Remark가 유망한 AI 사업 계획을 실행하면서 의무를 더 빠르게 이행할 수 있도록 한다고 언급했습니다. 이 발전은 Remark의 국가 거래소 재상장을 가속화할 것으로 예상됩니다.
Remark Holdings (OTCQX: MARK), un fournisseur leader de solutions d'IA, a conclu un accord avec Mudrick Capital Management L.P. pour échanger des obligations non convertibles existantes contre des débentures convertibles. Cela résout les problèmes de défaut antérieurs de Remark et transforme son bilan. L'entreprise est prête à tirer parti de son avenir en IA, avec des projets de mettre en liste ses solutions analytiques basées sur l'IA sur le Microsoft Azure Marketplace et le Cloud Marketplace d'Oracle.
Le PDG Kai-Shing Tao a exprimé sa gratitude à Mudrick Capital pour leur collaboration, soulignant le potentiel d'une expansion rapide de la base clients au niveau mondial. Jason Mudrick, fondateur de Mudrick Capital, a noté que l'accord permet à Remark de remplir ses obligations plus rapidement tout en exécutant leur prometteur plan d'affaires en IA. Ce développement devrait accélérer le ré-enregistrement de Remark sur une bourse nationale.
Remark Holdings (OTCQX: MARK), ein führender Anbieter von KI-Lösungen, hat eine Vereinbarung mit Mudrick Capital Management L.P. getroffen, um bestehende nicht konvertierbare Anleihen gegen konvertierbare Anleihen auszutauschen. Dies löst die vorherigen Zahlungsprobleme von Remark und transformiert die Bilanz des Unternehmens. Das Unternehmen ist bereit, von seiner KI-Zukunft zu profitieren und plant, seine KI-basierten Analyse-Lösungen im Microsoft Azure Marketplace und im Oracle Cloud Marketplace aufzulisten.
CEO Kai-Shing Tao sprach Dank an Mudrick Capital für ihre Zusammenarbeit aus und hob das Potenzial für eine schnelle Expansion der globalen Kundenbasis hervor. Jason Mudrick, Gründer von Mudrick Capital, bemerkte, dass die Vereinbarung es Remark ermöglicht, schnellere Verpflichtungen zu erfüllen, während sie ihr vielversprechendes KI-Geschäftsmodell umsetzen. Diese Entwicklung wird voraussichtlich Remark's Wiederzulassung an einer nationalen Börse beschleunigen.
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In the news release, Remark Holdings Enters into Debt Exchange Agreement with Mudrick Capital Management, L.P., Resolving All Previous Default Issues, issued 07-Aug-2024 by Remark Holdings, Inc. over PR Newswire, we are advised by the company that the press release has been updated. The complete, corrected release follows:
Remark Holdings Resolves Debt Default
Remark Holdings and Mudrick Capital Management LP Enter into Agreement That Will Allow Mudrick to Benefit from Remark's Success
"We want to thank Mudrick Capital for working with us while we built our business to the point at which we can all experience the fruits of our labor based on the vision we established 10 years ago. Together, we turned our financial challenges into opportunities and now Remark begins the process of transforming our balance sheet to capitalize on our exciting future in AI. Our proprietary, cutting-edge AI-based analytical solutions will very soon be available via Microsoft's Azure Marketplace and Oracle's Cloud Marketplace, which will enable us to rapidly scale up our customer base globally. This will allow us to re-list on a national exchange sooner rather than later," said Kai-Shing Tao, Chairman and CEO of Remark Holdings.
"The agreement we reached will allow Remark to meet their obligation to us more rapidly while allowing Remark to execute on their promising business plan to capitalize on the growth trajectory of AI," said Jason Mudrick, the founder and Chief Investment Officer of Mudrick Capital Management LP.
About Remark Holdings, Inc.
Remark Holdings, Inc. (OTCQX: MARK), a member of the Oracle Partner Network, is the
Forward-Looking Statements
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment, and regulations. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in the future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions, and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
Company Contact
Fay Tian
Vice President of Investor Relations
Remark Holdings
F.Tian@remarkholdings.com
(+1) 626-623-2000
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SOURCE Remark Holdings, Inc.
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