FUSE GROUP HOLDING INC. (FUST): debt financing — Fuse Group raises $100k via two convertible notes at 3% interest, $0.45 conversion price

FUSE GROUP HOLDING INC.

Entered two Convertible Promissory Note Purchase Agreements with Liu Marketing (M) Sdn. Bhd. for $50,000 each on Feb 24 and Apr 10, 2023.
Notes bear 3% annual interest, mature 24 months from funding; conversion price $0.45/share at holder's option.
Total principal amount of $100,000; both notes sold under Regulation S exemption from registration.
Interest payable on Feb 24 and Apr 10 of 2024 and 2025; default triggers 90-day cure period.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FUSE GROUP HOLDING INC. incurred convertible notes of $50,000 with Liu Marketing (M) Sdn. Bhd. at 3% per annum maturing twenty-four months from the date that the purchase price of the Second Note is paid to the Company.

Instrument: convertible notes
Principal: $50,000
Counterparty: Liu Marketing (M) Sdn. Bhd.
Rate: 3% per annum
Maturity: twenty-four months from the date that the purchase price of the Second Note is paid to the Company
Event: incurrence

Exact text from the filing

the Company sold a Convertible Promissory Note to the Purchaser with a principal amount of $50,000 (the "Second Note"). The Second Note bears interest at the rate of 3% per annum, which are payable on April 10 of 2024 and 2025.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Instrument: convertible notes
Principal: $50,000
Counterparty: Liu Marketing (M) Sdn. Bhd.
Rate: 3% per annum
Maturity: twenty-four months from the date that the purchase price of the First Note is paid to the Company
Event: incurrence

Exact text from the filing

the Company sold a Convertible Promissory Note to the Purchaser with a principal amount of $50,000 (the "First Note"). The First Note bears interest at the rate of 3% per annum, which are payable on February 24 of 2024 and 2025.

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

FUSE GROUP HOLDING INC. entered into Convertible Promissory Note Purchase Agreement with Liu Marketing (M) Sdn. Bhd. valued at $50,000 (effective 2023-04-10).

Action: entry
Agreement: equity purchase
Counterparty: Liu Marketing (M) Sdn. Bhd.
Value: $50,000
Effective: 2023-04-10

Exact text from the filing

On February 24, 2023, Fuse Group Holding Inc. (the “Company”), entered into a Convertible Promissory Note Purchase Agreement (the “First Agreement”) with Liu Marketing (M) Sdn. Bhd., a company organized under the laws of Malaysia (the “Purchaser”). Pursuant to the First Agreement, the Company sold a Convertible Promissory Note to the Purchaser with a principal amount of $50,000 (the “First Note”).

View on SEC.gov

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

FUSE GROUP HOLDING INC. entered into Convertible Promissory Note Purchase Agreement with Liu Marketing (M) Sdn. Bhd. valued at $50,000 (effective 2023-04-10).

Action: entry
Agreement: equity purchase
Counterparty: Liu Marketing (M) Sdn. Bhd.
Value: $50,000
Effective: 2023-04-10

Exact text from the filing

On April 10, 2023, the Company entered into another Convertible Promissory Note Purchase Agreement (the “Second Agreement”) with the Purchaser. Pursuant to the Second Agreement, the Company sold a Convertible Promissory Note to the Purchaser with a principal amount of $50,000 (the “Second Note”).

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FUSE GROUP HOLDING INC. filing history →

Source: SEC EDGAR

accession 0001185185-23-000333

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