IronNet, Inc.: debt financing — IronNet issues $595K secured convertible note to C5 Capital affiliate

IronNet, Inc.

Fifth C5 Note issued on April 13, 2023, in principal amount of $595,000 to entity affiliated with C5 Capital (beneficial owner >5% of common stock).
Note has same interest rate, maturity, and conversion terms as earlier C5 notes; secured by substantially all assets except intellectual property.
Note and shares issuable upon conversion are unregistered, relying on Section 4(a)(2) exemption under the Securities Act.

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

IronNet, Inc. incurred convertible notes of $595,000 with C5 at same terms as previously issued secured promissory notes maturing same terms as previously issued secured promissory notes.

Instrument: convertible notes
Principal: $595,000
Counterparty: C5
Rate: same terms as previously issued secured promissory notes
Maturity: same terms as previously issued secured promissory notes
Event: incurrence

Exact text from the filing

On April 13, 2023, IronNet, Inc. (the “ Company ”) issued a secured convertible promissory note in the principal amount of $595,000 (the “ Fifth C5 Note ”) to an entity affiliated with C5 Capital Limited (“ C5 ”), a beneficial owner of more than 5% of the Company’s outstanding common stock.

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

IronNet, Inc. entered into Fifth C5 Note with an entity affiliated with C5 Capital Limited valued at $595,000 (effective 2023-04-13).

Action: entry
Agreement: notes offering
Counterparty: an entity affiliated with C5 Capital Limited
Value: $595,000
Effective: 2023-04-13

Exact text from the filing

On April 13, 2023, IronNet, Inc. (the “ Company ”) issued a secured convertible promissory note in the principal amount of $595,000 (the “ Fifth C5 Note ”) to an entity affiliated with C5 Capital Limited (“ C5 ”), a beneficial owner of more than 5% of the Company’s outstanding common stock.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-106440

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