debt
confidence high
sentiment negative
materiality 0.65
Armlogi amends convertible note terms after VWAP falls below floor price of $1.1880
Armlogi Holding Corp.
- Company acknowledges Floor Price Event (VWAP below $1.1880 for 5 consecutive days) triggering Amortization Event.
- Company to pay $850,000 on March 24, 2025, then $200,000 weekly through May 19, 2025, plus $150,000 deferred fee.
- Investor grants forbearance until May 20, agreeing not to convert unless stock > $1.80 per share.
- Modification avoids immediate default but requires significant near-term cash outflows.