Auto Parts 4Less locks up ~$15M convertible debt, standstill agreements with key note holders

Auto Parts 4Less Group, Inc.

Secured standstill agreements with AJB Capital, Bigger Capital, District 2 Capital, Cove Fund, and Cavalry Fund totaling ~$5M in principal debt.
Total convertible debt of ~$15M locked into preferred shares, common stock with two-year lock-up, or standstill agreements.
CEO states restructuring positions company to attract an anchor investor, driving shareholder value.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Auto Parts 4Less Group, Inc. entered into Standstill Agreements with Bigger Capital Fund, LP, Cavalry Fund I, LP, District 2 Capital Fund LP, AJB Capital Investments LLC, COVE Funding, LP (effective 2024-03-25).

Action: entry
Counterparty: Bigger Capital Fund, LP, Cavalry Fund I, LP, District 2 Capital Fund LP, AJB Capital Investments LLC, COVE Funding, LP
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, Auto Parts 4 Less Group, Inc., a Nevada corporation (the “Company”), entered into Standstill Agreements with Bigger Capital Fund, LP, Cavalry Fund I, LP and District 2 Capital Fund LP.

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419 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001161697-24-000192

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