Verde Bio issues $71,960 promissory note with 12% interest to 1800 Diagonal Lending

VERDE BIO HOLDINGS, INC.

Issued $71,960 promissory note (incl. $7,710 original issue discount) to 1800 Diagonal Lending LLC, maturing Jan 9, 2024.
Interest rate 12%; convertible upon default at 75% of market price based on lowest trading price over 10 trading days.
Proceeds for general working capital; company reimbursed buyer $4,250 for legal and due diligence fees.
Note sold under Section 4(a)(2) exemption; conversion shares unregistered and subject to restrictive legend.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VERDE BIO HOLDINGS, INC. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC valued at $71,960.00 (effective 2023-01-09).

Action: entry
Agreement: notes offering
Counterparty: 1800 Diagonal Lending LLC
Value: $71,960.00
Effective: 2023-01-09

Exact text from the filing

On January 9, 2023, Verde Bio Holdings, Inc. (the “Company”) announced that it had entered into a Securities Purchase Agreement (“Purchase Agreement”) with 1800 Diagonal Lending LLC (“Buyer”) whereby the Company issued a Promissory Note for $71,960.00 (the “Note”) to Buyer.

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VERDE BIO HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001096906-23-000161

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