Freight Technologies (NASDAQ: FRGT), a technology company that offers the proprietary Fr8App platform, announced that its investors have converted millions of dollars of convertible debt to equity. According to the announcement, investors converted approximately $3.55 million in convertible notes into equity in the form of preferred shares. Fr8App is an industry-leading, freight-matching platform powered by artificial intelligence (“AI”) and machine-learning that offers a real-time portal for business-to-business (“B2B”) cross-border shipping and domestic shipping within the United States-Mexico-Canada Agreement (“USMCA”) region. “The conversion is very positive news for the company,” said Freight Technologies CEO Javier Selgas in the press release. “The amount converted is a relevant amount that will help the company continue being listed in good standing with the NASDAQ insofar as required minimum capital amounts for continued listing as of the end of our 2023 calendar year. We believe it is also a strong indicator of the significant support that a group of our investors continue to demonstrate in the company’s strategic direction. We continue to take steps towards improving our technology and offering our solutions to niche target markets across North America.”
To view the full press release, visit https://ibn.fm/iCtkh
About Freight Technologies Inc.
Freight Technologies is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App Inc. (“Fr8App”), is a business-to-business, cross-border shipping marketplace in the United States-Mexico-Canada Agreement (“USMCA”) region powered by artificial intelligence (“AI”) and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management and committed capacity solutions. The company is headquartered in Houston, Texas. For more information about the company, please visit www.FR8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
About MissionIR
MissionIR (“MIR”) is a specialized communications platform with a focus on assisting IR firms with syndicated content to enhance the visibility of private and public companies within the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MIR is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MIR brings its clients unparalleled recognition and brand awareness.
MIR is where breaking news, insightful content and actionable information converge.
For more information, please visit www.MissionIR.com
Please see full terms of use and disclaimers on the MissionIR website applicable to all content provided by MIR, wherever published or re-published: https://www.MissionIR.com/Disclaimer
MissionIR
Los Angeles, CA
www.MissionIR.com
310.299.1717 Office
Editor@MissionIR.com
MissionIR is powered by IBN
