VS Media Holdings Ltd. (NASDAQ:VSME) soared 48.72% to $1.38 in after-hours trading on Wednesday after the investment holding company filed a Securities and Exchange Commission disclosure regarding a debt-to-equity restructuring.
On April 27, VS Media and Singapore-based steel sourcing and project management firm S T Meng Pte. Ltd. executed a debt conversion and share subscription agreement converting a $3.8 million convertible promissory note originally issued in August 2025 into equity at $74.70 per S T Meng share, terminating the original note’s conversion mechanics entirely.
According to the SEC filing, post-conversion, VSME now holds 41.52% of the voting rights in S T Meng, securing a controlling minority stake while fully extinguishing the principal obligation.
What Investors Need To Know
A Debt Conversion and Share Subscription Agreement is a legally binding contract in which a …
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