Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ASPEN GROUP, INC. incurred senior notes of $12.4 million with JGB Management Inc. at 15% maturing May 12, 2026.
- Instrument
- senior notes
- Principal
- $12.4 million
- Counterparty
- JGB Management Inc.
- Rate
- 15%
- Maturity
- May 12, 2026
- Event
- incurrence
Exact text from the filing
On May 12, 2023, Aspen Group, Inc. (the “Company”) entered into a Securities Purchase Agreement with JGB Management Inc., (“JGB”) pursuant to which that day the Company sold to JGB a total of approximately $12.4 million in the aggregate principle amount of 15% Senior Secured Debentures
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
ASPEN GROUP, INC. entered into Securities Purchase Agreement with JGB Management Inc. valued at Approximately $12.4 million aggregate principal amount of 15% Senior Secured Debentures and warrants (effective 2023-05-12).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- JGB Management Inc.
- Value
- Approximately $12.4 million aggregate principal amount of 15% Senior Secured Debentures and warrants
- Effective
- 2023-05-12
Exact text from the filing
On May 12, 2023, Aspen Group, Inc. (the “Company”) entered into a Securities Purchase Agreement with JGB Management Inc., (“JGB”) pursuant to which that day the Company sold to JGB a total of approximately $12.4 million in the aggregate principle amount of 15% Senior Secured Debentures (“Debentures”) and five-year warrants to purchase a total of 2,214,114 shares of its common stock at an exercise price of $0.01 per share (the “Warrants”), for total gross proceeds of approximately $11 million, representing an 11% original issue discount on the Debentures, before deducting offering fees and expenses.
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