05:32 AM EDT, 04/24/2024 (MT Newswires) -- Smart for Life ( SMFL ) said late Tuesday it has completed a financial restructuring of the company.

The changes include a recapitalization with equity and debt financing, sales of non-performing assets, the sale and leaseback of the company's 18,000-square-foot manufacturing facility, a $3.4 million sale of 51% of its Ceautamed Worldwide subsidiary, and the liquidation of its senior debt facility with Diamond Creek Capital.

The health and wellness marketing and nutritional supplements company has also converted some debt obligations to equity. Chairman and founder A.J. Cervantes, Jr. said the changes "substantially reduced" the company's operations and revenue.

Shares of the company were up more than 6% in recent Wednesday premarket activity.

Price: 4.9700, Change: +0.29, Percent Change: +6.20