8-K
filed December 5, 2022, 6:59 PM ET
ticker MITI
CIK 0000802257
debt
confidence high
sentiment neutral
materiality 0.55
Mitesco raises $205K in insider-led bridge notes convertible at 150% if Nasdaq listing achieved by May 2023
Mitesco, Inc.
- Issued eight promissory notes totaling $205K: $100K to Mercer Street and $15K each from CEO Diamond, directors, officers.
- Notes bear 10% interest, mature May 2023; principal converts into Series E Preferred at 150% if common stock lists on national exchange by May 10, 2023.
- Lenders receive 512,500 warrants exercisable on terms similar to Series A warrants, priced per Nasdaq offering terms.
- If listing fails, notes remain debt with 10% interest; default rate rises to 18%.
- Exchange agreements with each lender; notes cancel upon exchange for Series E Shares under Series E SPA.
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
Mitesco, Inc. entered into Lindstrom Promissory Note with Ingrid Jenny Lindstrom valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Ingrid Jenny Lindstrom
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(4) Lindstrom promissory note (the “ Lindstrom Note ”) dated November 29, 2022, to Ingrid Jenny Lindstrom (“ Lindstrom ”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Iturregui Promissory Note with Juan Carlos Iturregui valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Juan Carlos Iturregui
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(5) Iturregui promissory note (the “ Iturregui Note ”) dated November 29, 2022, to Juan Carlos Iturregui (“ Iturregui ”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Naqvi Promissory Note with Faraz Naqvi valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Faraz Naqvi
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(6) Naqvi promissory note (the “ Naqvi Note ”) dated Novemebr 29, 2022, to Faraz Naqvi (“ Naqvi ”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Mercer Promissory Note with Mercer Street Global Opportunity Fund, LLC valued at Proceeds of $100,000 (effective 2022-12-02).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Mercer Street Global Opportunity Fund, LLC
- Value
- Proceeds of $100,000
- Effective
- 2022-12-02
Exact text from the filing
(1) Mercer promissory note (the “ Mercer Note ”) dated December 2, 2022, to Mercer Street Global Opportunity Fund, LLC (“ Mercer ”) of which the Company received proceeds of $100,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Schweitzer Promissory Note with Sheila Schweitzer valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Sheila Schweitzer
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(7) Schweitzer promissory note (the “ Schweitzer Note ”) dated November 29, 2022, to Sheila Schweitzer (“ Schweitzer ”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Brodmerkel Promissory Note with Thomas Brodmerkel valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Thomas Brodmerkel
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(8) Brodmerkel promissory note (the “ Brodmerkel Note ”, together with the Mercer Note, Diamond Note, Howe Note, Lindstrom Note, Iturregui Note, Naqvi Note and Schweitzer Note, the “ Notes ”) dated November 29, 2022, to Thomas Brodmerkel (“ Brodmerkel ”, together with Mercer, Diamond, Howe, Lindstrom, Iturregui, Naqvi and Schweitzer, the “ Lenders ” and Brodmerkel together with Diamond, Howe, Lindstrom, Iturregui, Naqvi and Schweitzer, collectively the “Officer and Director Lenders”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Howe Promissory Note with Michael C. Howe Living Trust valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Michael C. Howe Living Trust
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(3) Howe promissory note (the “ Howe Note ”) dated November 29, 2022, to Michael C. Howe Living Trust (“ Howe ”) of which the Company received proceeds of $15,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mitesco, Inc. entered into Diamond Promissory Note with Lawrence Diamond valued at Proceeds of $15,000 (effective 2022-11-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Lawrence Diamond
- Value
- Proceeds of $15,000
- Effective
- 2022-11-29
Exact text from the filing
(2) Diamond promissory note (the “ Diamond Note ”) dated November 29, 2022, to Lawrence Diamond (“ Diamond ”) of which the Company received proceeds of $15,000.
View on SEC.gov
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