other material
confidence high
sentiment neutral
materiality 0.60
EON Resources exchanges $2.9M notes and 3.95M warrants for $6.85M convertible notes due 2028
EON Resources Inc.
- Issued $6,850,000 aggregate principal of convertible notes to 11 accredited investors in exchange for $2,900,000 Old Notes and 3,950,000 Old Warrants.
- Convertible notes mature January 31, 2028, bear 7.5% annual interest, and are prepayable without penalty.
- Conversion price is the greater of $0.25/share or 90% of the average of the three lowest VWAPs over the prior 10 trading days.
- Notes include automatic price reset if the Company issues stock at a lower price and most-favored-nation clause for future security terms.
- Issuance exempt from registration under Section 3(a)(9) of the Securities Act.