Firy Inc. (NYSE: FIRY) announced on October 5, 2026, that it has delivered a notice of full redemption for its outstanding 10.250% Secured Notes due 2026. The company will redeem the remaining approximately $49.7 million in aggregate principal amount of these Notes on October 15, 2026, at a price equal to 100.000% of the principal amount plus any accrued and unpaid interest.
Upon completion of the redemption, Firy expects to have no outstanding indebtedness for borrowed money. The liens securing the Notes will be released, and the company will no longer be subject to the covenants under the indenture governing the Notes. The company intends to fund the redemption using proceeds from the previously announced sale of its equity stake in Exit Games.
According to the filing, the October 2026 redemption is expected to save the company approximately $0.8 million in cash interest. Combined with a previous redemption in August 2026, the transactions are projected to save approximately $3.6 million in cash interest that would have otherwise accrued through the December 15, 2026 maturity date.
CEO Andrew Paradise stated that the redemption completes the retirement of the $300 million Notes ahead of their maturity. CFO Alex Walsh noted that the company expects to enter 2027 without outstanding borrowed debt and with greater flexibility. The company projects modest positive operating cash flow in 2027 and revenue more than doubling from 2025 to 2028.
