I don't see anything good in this announcement. All I see is that Sw1 could not meet the terms so would be in default already. They have a greed to revise the terms that hopefully prevent SW1 from further default.
For that they get 24m warrants!
It does state they are exercisable at 8c.
so they are basically useless. if they do come into affect every current holder get diluted again to get basically nothing.
I guess I should look more into it but on the face of it to me, business as usual. sad face.
Ann: Swift Debt Facility - Amendment, page-4
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