[Satellite TODAY 10-22-09] Machine-to-machine product developer Numerex Corp. has cut its outstanding debt from $4 million to $2 million, CFO Alan Catherall said in an Oct. 21 statement. Catherall said Numerex repaid $1 million of non-convertible and $1 million of converted outstanding debt. As a result, the company issued an aggregate of 215,054 shares of stock on Oct. 20. Numerex’s total debt now stands at $2 million.
    "Our capital structure has significantly improved during the past quarter after we cumulatively reduced the company’s debt from $9 million to $2 million. Similar to the two prior transactions, this debt reduction is accretive, was not subject to any pre-payment penalties and was achieved with only part cash since $1 million of debt was converted into equity," Catherall said.
    Numerex will write off $120,000 in unamortized financing costs related to the transaction.

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