Bank of America plans to repurchase $100 million in convertible notes from FTX for $71 million

ChainCatcher News, American emerging bank Dave announced that it has reached an agreement with FTX Ventures Ltd to purchase its previously issued convertible note to FTX, originally amounting to $100 million, at a discounted price of $71 million.

It is reported that FTX has filed a motion in its bankruptcy proceedings seeking approval for the agreement, with a hearing scheduled for January 25, 2024. The completion of the transaction also depends on whether the bankruptcy court approves the agreement.