Separate Exchange Agreements for each of the holders of its $19 million in senior secured promissory notes, has been announced by Workstream.
"In summary, we have extended the maturity of our notes out 32 months to July 2012, provided an equity feature to our note holders allowing the Company more time to build our business with them, and as partners, share in our success while we continue to grow," said Michael Mullarkey, Chief Executive Officer.
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About Workstream
Workstream provides on-demand compensation; performance and talent management solutions and services that help companies manage the entire employee lifecycle -- from recruitment to retirement. Workstream's Talent Center provides a unified view of all Workstream products and services including Recruitment, Performance, Compensation, Development and Transition. Access to Talent Center is offered on a monthly subscription basis under an on-demand software delivery model to help companies build high performing workforces, while controlling costs. With offices across North America, Workstream services customers including Chevron, Kaiser Permanente and Nordstrom.
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