secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2025-03-10T23:59:59+00:00
Accession:  0001213900-25-022185
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe & Green enters $360K convertible promissory note with GS Capital Partners
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390025022185/0001213900-25-022185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390025022185/ea0233730-8k_safe.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-022185

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