8-K
filed February 17, 2023, 6:59 PM ET
ticker IPSI
CIK 0001591913
debt
confidence high
sentiment neutral
materiality 0.50
Innovative Payment Solutions, Inc. (IPSI): debt financing — Innovative Payment Solutions raises $425k via convertible notes and warrants
Innovative Payment Solutions, Inc.
- Gross proceeds of $425,000 from 7 accredited investors; upsized to $600,000 if fully subscribed.
- 12-month Notes at 8% interest, convertible at $0.0115 per share.
- Five-year Warrants to purchase up to 36,956,521 shares at $0.0115 exercise price per share.
- Conversion and exercise limited to 4.99% beneficial ownership per holder; cap may be increased to 9.99% after 61 days.
- Securities issued under Section 4(a)(2) and Rule 506(b) exemption; no registration rights granted.
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
Innovative Payment Solutions, Inc. incurred convertible notes of $425,000 at 8% per annum maturing 12 months.
- Instrument
- convertible notes
- Principal
- $425,000
- Rate
- 8% per annum
- Maturity
- 12 months
- Event
- incurrence
Exact text from the filing
Between February 13, 2023 and February 17, 2023, Innovative Payment Solutions, Inc. (the “Company”), entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with 7 accredited investors (collectively the “Investors,” and each an “Investor”), pursuant to which the Company received an aggregate of $425,000 in gross proceeds from the Investors through the initial closing of a private placement issuance of: ● Convertible Notes Promissory (the “Notes” and each a “Note”);
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Innovative Payment Solutions, Inc. entered into Securities Purchase Agreement with 7 accredited investors valued at $425,000 (effective 2023-02-13).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- 7 accredited investors
- Value
- $425,000
- Effective
- 2023-02-13
Exact text from the filing
Between February 13, 2023 and February 17, 2023, Innovative Payment Solutions, Inc. (the “Company”), entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with 7 accredited investors (collectively the “Investors,” and each an “Investor”), pursuant to which the Company received an aggregate of $425,000 in gross proceeds from the Investors through the initial closing of a private placement issuance of:
View on SEC.gov
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