EDOC Acquisition amends PIPE deal: $1M initial payment, $2.22M debenture, extends termination to Mar 31

Edoc Acquisition Corp.

Amendment No. 3 to Securities Purchase Agreement with Arena Investors: first closing debenture $2,222,222 principal, 10% OID, 18-month maturity; initial payment $1,000,000 (net of $1M reserve).
Two additional closings: 60th trading day after first registration statement (Second Closing, $2,777,777) and after second registration statement (Third Closing, $2,777,777).
Termination date and exclusivity period extended to March 31, 2024.
If AOI fails to transfer CQ Oilseeds equity or grant first priority security, Pubco must issue 10M penny warrants at $0.01 per share to PIPE investor.
Sponsor to fund $1M escrow as condition; redemption deadline extended to March 5, 2024 for shareholders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Edoc Acquisition Corp. amended Amendment No. 3 to Securities Purchase Agreement with Arena Investors, LP valued at PIPE Investor will purchase a 10% original issue discount secured convertible Debenture issued by Pu (effective 2024-03-01).

Action: amendment
Agreement: equity purchase
Counterparty: Arena Investors, LP
Value: PIPE Investor will purchase a 10% original issue discount secured convertible Debenture issued by Pu
Effective: 2024-03-01

Exact text from the filing

On March 1, 2024, the parties entered into Amendment No. 3 to Securities Purchase Agreement (the “ Amendment ”), which amended the terms of the transaction as follows: (a) Amendment of Purchase and Sale of Debentures and Warrants .

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Source: SEC EDGAR

accession 0001213900-24-019106

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