Treasure Global amends convertible debenture terms; pays $1.5M to investor, gets share sale floor at $1.00

TREASURE GLOBAL INC

Paid $1,000,000 initial trigger payment plus $500,000 ($467,289.72 principal, $32,710.28 redemption premium) by Oct 6, 2023.
YA agrees not to sell TGL shares below $1.00 from Oct 5 to Nov 18, 2023, with exceptions for default, non-payment, or issuer consent.
Subsequent monthly payments under Section 2(a) deferred to Nov 28, 2023, and monthly thereafter until debentures paid in full.
Floor Price Trigger defined as daily VWAP below $0.25 for 5 of 7 consecutive trading days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

TREASURE GLOBAL INC entered into Agreement with YA II PN, Ltd with YA II PN, Ltd valued at initial Trigger Payment in the amount of $1,000,000 and an additional payment in the amount of $500, (effective 2023-10-05).

Action: entry
Counterparty: YA II PN, Ltd
Value: initial Trigger Payment in the amount of $1,000,000 and an additional payment in the amount of $500,
Effective: 2023-10-05

Exact text from the filing

Treasure Global Inc (the “Company”) entered into an agreement (the “Agreement”) with YA II PN, Ltd, a Cayman Islands exempt limited partnership (“YA”), on October 10, 2023, effective as of October 5, 2023

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TREASURE GLOBAL INC filing history →

Source: SEC EDGAR

accession 0001013762-23-003549

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