debt
confidence high
sentiment negative
materiality 0.55
Nature's Miracle issues $181,700 convertible note with 12% interest and default conversion discount
Nature's Miracle Holding Inc.
- Net proceeds of $158,000 after $23,700 OID; repayable in 10 monthly payments of $20,350.40 ($203,504 total).
- Note convertible at 25% discount to market price only upon an Event of Default; 4.99% beneficial ownership cap.
- Company must reserve shares equal to 4x the number potentially issuable upon conversion.
- Additional tranches of up to $1,000,000 available over next 12 months subject to further agreement.
- Proceeds used for general working capital; lender is an accredited investor and offering exempt from registration.