OLENOX INDUSTRIES INC. (OLOX): debt financing — Safe & Green enters $360K convertible promissory note with GS Capital Partners

OLENOX INDUSTRIES INC.

Net proceeds of $300K after $60K original issue discount; 15% annual interest with first 12 months ($54K) guaranteed.
Monthly payments of $44K starting June 3, 2025, final payment due March 3, 2026.
Conversion price set at $0.65 per share, subject to shareholder approval under Nasdaq Rule 5635(d).
275,000 commitment shares issued as additional consideration; conversion capped at 4.99% beneficial ownership.
Event of default includes failure to pay or issue conversion shares; alternate conversion price of $0.52 post-default.

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 convertible notes of $360,000 with GS Capital Partners, LLC at fifteen percent (15%) per annum maturing March 3, 2026.

Instrument: convertible notes
Principal: $360,000
Counterparty: GS Capital Partners, LLC
Rate: fifteen percent (15%) per annum
Maturity: March 3, 2026
Event: incurrence

Exact text from the filing

On March 3, 2025 (the “Issue Date”), Safe & Green Holdings Corp. (the “Company”) executed and issued a Promissory Note (“Note”) in favor of GS Capital Partners, LLC (the “Lender”) in the aggregate principal amount of $360,000 (the “Principal”), and an accompanying Securities Purchase Agreement (the “SPA”) and Registration Rights Agreement (the “RRA”).

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Source: SEC EDGAR

accession 0001213900-25-022185

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