The Globe and Mail reports in its Saturday, March 29, edition that four investors in SRTX, the maker of Sheertex rip-resistant tights, have agreed to lead a $40-million financing round that will significantly reduce the company's valuation and dilute the shares of investors who do not participate. The Globe's Sean Silcoff writes that the deal, which is still in progress and has not yet closed, will be led by the Swedish retail giant H&M Hennes & Mauritz, which previously led a $101-million financing for SRTX in 2022 and sells its products. Other participants include Crown corporations Export Development Canada, the Business Development Bank of Canada and Investissement Quebec (IQ). SRTX's chief executive officer and founder, Katherine Homuth, has announced plans to step down from her position as CEO and leave the board once the financing is finalized. She said in a text: "This was not how I expected things to pan out but I hope to make the most of the next chapter. I have learned so much and am excited to apply it to what's next." SRTX's products are stocked by H&M, Costco, Walmart, Holt Renfrew, Macy's and Kim Kardashian's SKIMS banner.