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Product to develop AI activity
Remark Holdings, Inc., a diversified global technology company with leading artificial intelligence (“AI”) solutions and digital media properties, today announced a $ 30 million debt financing agreement with Mudrick Capital Management, LP. and develop the NFT and Metaverse activities.
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“We are delighted to be working with a well-known investor to recognize undervalued companies and provide the strategic capital and industry expertise to help seize and develop opportunities in the large addressable markets we pursue,” said Kai Shing Tao, Chairman and CEO of Remark Holdings. “This credit facility allows us to raise capital on a non-dilutive basis, which protects shareholder value and, more importantly, provides the funds necessary to achieve the growth plans we have set out for 2022. We are doing well. placed to take advantage of the infrastructure bill. in 2022 by working towards an operational deployment in the security, transport and public safety markets. We look forward to providing additional information on our NFT and Metaverse activities in the coming weeks. “
Mudrick Capital Management, LP is an SEC registered investment advisor focused on special situations and high value event driven investments. Mudrick Capital manages the capital of a diverse group of sophisticated institutions and individuals, including endowments, foundations, insurance companies, private banks, funds of funds, pensions, family offices and high net worth individuals. From October 2021, Mudrick Capital manages approximately $ 3.5 billion. Mudrick Capital focuses on opportunities through the company’s capital structure to find investments with attractive risk / reward ratios. The objective is to provide returns comparable to those of equities with risk and volatility comparable to those of credit in an uncorrelated manner.
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