OLENOX INDUSTRIES INC. (OLOX): debt financing — Safe & Green subsidiary closes $250K convertible debenture tranche with Peak One

OLENOX INDUSTRIES INC.

SG DevCo issued $250K 8% convertible debenture (12-month term, conversion price $2.14) to Peak One for $225K purchase price.
Issued warrant to purchase 125,000 common shares at $2.53 per share, five-year term, with cashless exercise provision.
Amendment splits second $500K tranche into two $250K tranches; third tranche subject to mutual agreement after April 16, 2024.
Paid $6,500 non-accountable fee to Peak One and issued 35,000 commitment shares; placement agent Maxim received $13,500 fee.
Amended registration rights agreement requires filing of registration statement within 60 days to register resale of shares.

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

OLENOX INDUSTRIES INC. incurred convertible notes of $250,000 with Peak One Opportunity Fund, L.P. at 8% per annum maturing twelve months from its date of issuance.

Instrument: convertible notes
Principal: $250,000
Counterparty: Peak One Opportunity Fund, L.P.
Rate: 8% per annum
Maturity: twelve months from its date of issuance
Event: incurrence

Exact text from the filing

SG DevCo issued an 8% convertible debenture in the principal amount of $250,000 (the “Second Debenture”) to Peak One

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

OLENOX INDUSTRIES INC. amended Amendment with Peak One Opportunity Fund, L.P. (effective 2024-02-15).

Action: amendment
Agreement: equity purchase
Counterparty: Peak One Opportunity Fund, L.P.
Effective: 2024-02-15

Exact text from the filing

On February 15, 2024, Safe and Green Development Corporation (“SG DevCo”), a majority owned subsidiary of Safe & Green Holdings Corp., entered into an amendment (the “Amendment”) to the Securities Purchase Agreement, dated November 30, 2023 (the “Purchase Agreement”) with Peak One Opportunity Fund, L.P. (“Peak One”), pursuant to which SG DevCo agreed to issue, in a private placement offering (the “Offering”) upon the satisfaction of certain conditions specified in the Purchase Agreement, two Debentures to Peak One in the aggregate principal amount of $1,200,000.

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

OLENOX INDUSTRIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-016150

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