Under the terms of the conversion agreement Mr. Milovanovic voluntarily converted $8 million of 18-Month Non-Contingent Post-Closing Cash Consideration into 8 million shares of Golden Matrix common stock at a conversion price of $1.00 per share.
This transaction was completed pursuant to the Ninth Amendment to the Amended and Restated Sale and Purchase Agreement originally executed in connection with the Company's transformational acquisition of Meridianbet.
This debt-to-equity conversion represents a significant strategic milestone that materially improves Golden Matrix's financial position by:
Eliminating $8 million in near-term cash obligations, preserving capital for growth initiatives and operational expansion
Reducing leverage and enhancing financial flexibility during a period of accelerating business momentum
Demonstrating disciplined capital allocation that prioritizes shareholder value creation
Positioning the Company to capitalize on emerging market opportunities without the constraints of debt service
The conversion is particularly noteworthy as it represents Mr. Milovanović's deliberate choice to increase his equity stake in Golden Matrix rather than receive cash. As one of the Company's largest shareholders and a principal architect of the Meridianbet success story, Mr. Milovanović's decision to further align his interests with public ...
