Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
CHINA PHARMA HOLDINGS, INC. amended Amendment to Convertible Promissory Note with Streeterville Capital, LLC valued at Extended maturity date to May 19, 2024; extension fee of 2% of outstanding balance; reduced conversi (effective 2023-04-13).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- Streeterville Capital, LLC
- Value
- Extended maturity date to May 19, 2024; extension fee of 2% of outstanding balance; reduced conversi
- Effective
- 2023-04-13
Exact text from the filing
On April 13, 2023, China Pharma Holdings, Inc. (the “Company”) entered into an Amendment (the “Amendment”), to the Convertible Promissory Note (the “Note”) the Company issued to an institutional accredited investor Streeterville Capital, LLC (“Investor”) pursuant to a Securities Purchase Agreement (the “Agreement”) dated November 17, 2021. The Investor and the Company have agreed, according to the terms of the Amendment, to extend the maturity date of the Note to May 19, 2024. In consideration to the extension, the Company has agreed to pay to the Investor an extension fee equal to two percent (2%) of the outstanding balance of the Note, decrease the price at which the Investor can convert portions of the Note’s outstanding balance to the Company’s common stock, and assume an additional obligation to redeem a portion of the outstanding balance of the Note monthly or be subject to additional penalty fees. The Amendment also includes customary representations and warranties by the Compan
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