Circle8 cancels $35M convertible note in SPP settlement deal
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Circle8 Group Eliminates $35 Million Convertible Seller's Note Through Definitive Settlement Agreement With SPP Credit Advisors
August 10, 2026 8:00 AM EDTENGLEWOOD CLIFFS, N.J., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Circle8 Group, Inc. (Nasdaq: CIRC) ("Circle8" or the "Company") today announced that it has executed a definitive settlement agreement with SPP Credit Advisors, LLC ("SPP"), resolving all outstanding litigation between the parties, releasing, cancelling and discharging the Company's $35 million Convertible Seller's Note due March 2027 and substantially restructuring the Company's remaining legacy financing arrangements with SPP.
The definitive settlement agreement cures existing defaults under the Company's obligations to SPP, restores the remaining indebtedness to its contractual non-default interest rate, eliminates default interest and establishes an orderly... More
