TREASURE GLOBAL INC (TGL): debt financing — Treasure Global receives Floor Price Trigger on $3.55M convertible debentures

TREASURE GLOBAL INC

Floor Price Trigger occurred Sept 28, 2023; VWAP < $0.25 for 5 of 7 consecutive trading days.
Company received notice from YA II PN on Sept 29; $3.55M principal outstanding as of Oct 3.
Monthly payments start Oct 10: lesser of $1M or outstanding principal, plus 7% premium and accrued interest.
Payments continue until VWAP > $0.25 for 5 of 7 consecutive trading days or principal repaid.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TREASURE GLOBAL INC faced acceleration on convertible notes of aggregate principal amount of up to $5,500,000 with YA II PN, Ltd. at 4% per annum maturing twelve months.

Instrument: convertible notes
Principal: aggregate principal amount of up to $5,500,000
Counterparty: YA II PN, Ltd.
Rate: 4% per annum
Maturity: twelve months
Event: acceleration

Exact text from the filing

to the Securities Purchase Agreement the Buyer purchased two unsecured convertible debentures (the “ Convertible Debentures ”), in the aggregate principal amount of up to $5,500,000. Each of the Convertible Debentures has a term of twelve months and bears interest at 4% per annum. As of October 3, 2023 an aggregate of $3,550,000 remain outstanding under the

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TREASURE GLOBAL INC filing history →

Source: SEC EDGAR

accession 0001013762-23-001602

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