financial restructuring

Elixxer Ltd. has settled approximately $6.9 million in debt by issuing over 83.9 million common shares. This significantly reduces the company’s liabilities but dilutes existing shareholders. AIP Convertible Private Debt Fund L.P. now holds approximately 84.28% of Elixxer, consolidating ownership. Certain insiders also received shares through related-party transactions. The move aims to strengthen the balance sheet and streamline future operations.

Gerdau S.A. announced a cash tender offer for its 4.875% notes due 2027, aiming to reshape its debt profile. The offer, detailed in the purchase offer dated June 3, 2025 and fully guaranteed by Gerdau, allows bondholders to tender notes until 5:00 p.m. (NY time) today. The settlement date is tentatively June 12, 2025. This strategic move reflects Gerdau’s commitment to financial management.