Adaptive Medias Announces Retirement of Convertible Debt Following Payment to Gemini Master Fund
February 11 2014 - 9:15AM
Marketwired
Adaptive Medias Announces Retirement of Convertible Debt Following
Payment to Gemini Master Fund
Company Retires Note and Four Million Warrants in Settlement
Agreement
IRVINE, CA--(Marketwired - Feb 11, 2014) - Multi-channel
audience and content monetization company, Adaptive Medias, Inc.
(OTCQB: ADTM), a
leader in programmatic advertising across mobile, video and online
display, announced today it has satisfied all obligations owed to
Gemini Master Fund, and canceled Gemini's four million warrants.
Adaptive and Gemini reached a settlement several months ahead of
the May 31, 2014 maturity date, which marks the retirement of all
outstanding convertible debt in the Company.
"Retiring the convertible note with Gemini Master Fund and
canceling its warrants is a critical milestone for Adaptive Media,"
said CEO Qayed Shareef. "As we work toward finalizing a transaction
with OneScreen and look to the future, which hopefully includes
uplisting to a senior exchange, it's essential that we have a clean
capital structure.
"We are very excited to have retired this legacy
obligation."
ABOUT ADAPTIVE MEDIA Adaptive Media is a programmatic audience
and content monetization provider for website owners, app
developers and video publishers who want to more effectively
optimize content through advertising. The Company provides a
foundation for publishers and developers looking to engage brand
advertisers through a multi-channel approach that delivers
integrated, engaging and impactful ads across multiple devices.
Adaptive Media meets the needs of its publishers with an emphasis
on maintaining user experience, while delivering timely and
relevant ads through its multi-channel ad delivery and content
platform. For more information, please visit www.adaptivem.com.
Also, follow us on Twitter at @adaptive_m.
Safe Harbor Statement: This Press Release may contain certain
forward-looking statements within the meaning of the Securities
Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried,
whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions.
These statements reflect Adaptive Medias' current beliefs and are
based on information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause Adaptive Medias'
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. Adaptive
Medias undertakes no obligation to update or provide advice in the
event of any change, addition or alteration to the information
contained in this Press Release including such forward-looking
statements.
Contacts: Adaptive
Media Publicity Contact: Mike Sprouse President & CEO
Sprouse Marketing Group Phone: (312) 396-4106 Email:
mike@sprousemarketing.com Adaptive Media Investor
Contact: Kevin Fickle President Nuwa Group LLC Phone: (925)
330-8315 Email: kevin@nuwagroup.com
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