debt
confidence high
sentiment neutral
materiality 0.75
Insight Acquisition Corp. enters $2.89M convertible note deal with Streeterville; special meeting set for Oct 29
ALPHA MODUS HOLDINGS, INC.
- Entered securities purchase agreement with Streeterville Capital for $2.89M secured convertible promissory note, net proceeds $2.6M.
- Note carries 10% interest, 18-month maturity, convertible into Class A common at 90% of lowest VWAP over 5 trading days.
- Note secured by all assets of Insight and Alpha Modus, including Alpha Modus's IP; Alpha Modus guarantees.
- Special meeting for business combination with Alpha Modus set for Oct 29; redemption deadline Oct 25.
- Company must seek shareholder approval for conversion capacity exceeding Nasdaq Listing Rule 5635.