OLENOX INDUSTRIES INC. (OLOX): debt financing — Safe & Green Holdings issues $149,500 convertible promissory note to 1800 Diagonal Lending

OLENOX INDUSTRIES INC.

Principal $149,500; purchase price $130,000 (original issue discount $19,500).
One-time 10% interest on issuance; nine monthly payments of $18,272.23 starting April 15, 2024.
Default interest 22%; upon default after six months, lender can convert at greater of $0.08 or 65% of lowest closing bid over prior 10 days.
Conversion capped at 4.99% ownership and 19.99% of outstanding (waived upon Nasdaq delisting).
SPA contemplates up to $1,000,000 additional tranches over 12 months subject to further agreement.

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 loan of $149,500 with 1800 Diagonal Lending LLC at ten percent (10%) maturing nine monthly payments of accrued, unpaid interest and outstanding principal, subject to adjustment.

Instrument: loan
Principal: $149,500
Counterparty: 1800 Diagonal Lending LLC
Rate: ten percent (10%)
Maturity: nine monthly payments of accrued, unpaid interest and outstanding principal, subject to adjustment
Event: incurrence

Exact text from the filing

On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).

View on SEC.gov

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

OLENOX INDUSTRIES INC. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC (effective 2024-03-05).

Action: entry
Agreement: equity purchase
Counterparty: 1800 Diagonal Lending LLC
Effective: 2024-03-05

Exact text from the filing

On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).

View on SEC.gov

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

OLENOX INDUSTRIES INC. entered into Promissory Note with 1800 Diagonal Lending LLC valued at $149,500 (effective 2024-03-05).

Action: entry
Agreement: notes offering
Counterparty: 1800 Diagonal Lending LLC
Value: $149,500
Effective: 2024-03-05

Exact text from the filing

On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).

View on SEC.gov

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

OLENOX INDUSTRIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-022712

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.