InnerScope Hearing Technologies (OTC: INND) is an emerging and disruptive leader in the direct-to-consumer hearing technology space. The company has announced its successful negotiation of the cancellation of a series of variable price convertible notes, with a total principal amount of $1.1 million held by GS Capital Partners LLC, resulting in a favorable restructuring of its financing agreements. “InnerScope is pleased to enter into these shareholder-friendly financing arrangements, which enhances our balance sheet and capital structure,” said Matthew Moore, president and CEO of InnerScope. “We appreciate the support from GS Capital in completing this transaction, as they continue to be a strong financial partner for us. We will work diligently to achieve the most attractive financing terms that support our growth and maximize value for our shareholders.”
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About InnerScope Hearing Technologies Inc.
InnerScope is a leading direct-to-consumer (“DTC”) manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and personal sound amplifier products (“PSAPs”) (“hearing products”) dedicated to addressing the global demand for affordable hearing solutions. InnerScope’s products and its business model break through the persistent barriers that prevent access to effective hearing solutions. InnerScope’s recent acquisition of iHear Medical Inc., a DTC cloud-based hearing solution provider, gives the company access to over 40 patents and an FDA-registered manufacturing and R&D facility. In addition, InnerScope has acquired HearingAssist, an established leader in the direct-to-consumer hearing aid market with a customer base of over 400,000. These acquisitions, combined with a partnership with Atlazo Inc., a semiconductor innovator for next-generation AI smart devices, will allow InnerScope to take the lead position in the direct-to-consumer hearing solutions market by selling innovated proprietary advanced hearing products through Walmart and other major big box retailers. InnerScope has a full line of hearing products including proprietary, free to the public, automated self-check hearing screening kiosks, which are currently being deployed in some of the nation’s largest retailers and pharmacy chains. InnerScope’s hearing products are presently displayed in 757 Walmart stores in five states. The products are also available through these multiple retail/wholesale channels: Walmart.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba RGH Enterprises Inc. Additional major retailers are launching soon in-store and online. For information related to InnerScope Hearing Technologies’ latest hearing aids and related hearing products, please visit www.MyHearIQ.com, www.iHearDirect.com and www.HearingAssist.com. For the most up-to-date information about InnerScope, please visit and follow its official Twitter account @inndstock page: https://twitter.com/inndstock.
NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND
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