December 30, 2016 / 11:06 AM / 8 months ago

BRIEF-Phoenix New Media announces conversion of loans to preferred shares of Yidian

Dec 30 (Reuters) - Phoenix New Media Ltd :

* Phoenix New Media announces conversion of loans to preferred shares of yidian

* Phoenix New Media - has agreed to exercise its right to convert us$20 million of loans granted by company to Particle Inc in January and April 2016

* Phoenix New Media Ltd - upon completion of conversion, company is expected to own approximately 47.8% of total outstanding shares of particle

* Phoenix New Media Ltd - to convert US$20 million of loans granted by company to particle inc into series d1 preferred shares to be issued by particle Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below