CLS Holdings USA, Inc.: debt financing — CLS Holdings raises $2.01M via secured notes and convertible debentures at 16% interest

CLS Holdings USA, Inc.

Raised $930K in secured promissory notes, 16% interest, due July 8, 2025.
Raised $1.08M in unsecured debentures convertible to common at $0.0333 per share, 16% interest.
Company plans to convert all debentures into shares before January 15, 2024, diluting equity.
Secured notes are quarterly pay; debentures can be paid in cash or stock at company's option.

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

CLS Holdings USA, Inc. incurred senior notes of $930,000 original principal amount at 16% annually maturing July 8, 2025.

Instrument: senior notes
Principal: $930,000 original principal amount
Rate: 16% annually
Maturity: July 8, 2025
Event: incurrence

Exact text from the filing

On January 2, 2024, CLS Holdings USA, Inc. (the "Company") completed a private placement of $930,000 original principal amount of Secured Promissory Notes.

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283 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001185185-24-000056

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