other material
confidence high
sentiment neutral
materiality 0.55
Insight Acquisition amends convertible note and secures share forfeiture for Alpha Modus
ALPHA MODUS HOLDINGS, INC.
- Amended SPA with Streeterville Capital sets conversion floor price at $4.00 for $2.89M note (net $2.6M).
- Stock falling below $4.00 floor for 10 consecutive days triggers repayment 90 days after funding.
- Investor agrees not to foreclose on assets for 12 months after purchase price date.
- Polar Multi-Strategy Master Fund forfeits 850,000 Alpha Modus shares, reducing its stake to 150,000 at closing.
- Forfeiture reduces potential dilution by 85% for Insight shareholders in the business combination.