Applied Visual Sciences Announces Debenture Restructuring and Strategic Investor
SOURCE: Applied Visual Sciences, Inc. HERNDON, VA–(Marketwire – October 19, 2010) – Applied Visual Sciences ( OTCBB : APVS ) announced today that, on October 15, 2010, it entered into an agreement with the holders of the company’s outstanding Series A 10% Senior Convertible Debentures due November 7, 2008, that extends the maturity date of the debentures, provides that the debentures will be non-interest bearing through the date of maturity, and for certain other amendments to the terms of the debentures and related agreements. Under the terms of the agreement, the convertible debenture holders have agreed to extend the maturity of the notes to June 30, 2011
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