SunHydrogen converts $148,603 convertible note into 1,486 Series C Preferred shares

SUNHYDROGEN, INC.

Converted $100,000 principal plus $48,603 accrued interest on a 2018 note into 1,486 Series C Preferred shares.
Series C Preferred has 10% annual dividend, no voting rights, $100 face value, convertible into common at fixed price.
Investor John W. Baer Trust cancelled the note and waived future accrued interest.
Debt conversion reduces liabilities but dilutes common shareholders via potential conversion.

Key facts

Extracted from this filing and checked against the source text.

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

SUNHYDROGEN, INC. entered into Purchase Agreement with an accredited investor valued at $148,603 (effective 2023-06-19).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Value: $148,603
Effective: 2023-06-19

Exact text from the filing

Effective June 19, 2023, SunHydrogen, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an accredited investor.

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38 material agreements filed in the last 30 days. Browse all material agreements →

SUNHYDROGEN, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-051387

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