La Rosa Holdings Corp. announced on September 26, 2024, that it has entered into an amendment with its noteholder to restructure debt under three outstanding notes issued in February, April, and July 2024. As part of this amendment, the company repaid $200,000 of the debt under these notes.
All principal and interest payments under the notes have been deferred until February 1, 2025, at which point monthly payments will commence, first applied to the July note, then April, and finally the February note. The maturity dates for all three notes were extended to August 1, 2025.
The noteholder also agreed not to effectuate any conversions of the notes unless the company fails to comply with the amendment or an event of default occurs. This strategic restructuring is expected to strengthen La Rosa's financial position by reducing total debt under the notes by approximately 9.5% and providing greater financial flexibility.
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