debt
confidence high
sentiment neutral
materiality 0.65
Klotho Neurosciences raises $2M via convertible notes and warrants with institutional investor
Greenland Mines Ltd
- Aggregate purchase price of $2M for convertible notes (principal $2,173,914) and warrants (4M shares).
- First closing: $1M for $1,086,957 note (7% interest, 8% OID) and warrant to buy 2M shares at $0.50.
- Notes convertible at $0.25/share; conversion capped at 4.99% (9.99% optional) of outstanding common stock.
- Registration statement to be filed within 15 days; second $1M closing conditional on SEC effectiveness.
- Stockholder meeting within 90 days to approve issuance exceeding 19.99% of outstanding shares; voting agreement in place.