debt
confidence high
sentiment neutral
materiality 0.60
Vocodia closes $3M convertible note with Eleven 11; note convertible at $0.001 floor
Vocodia Holdings Corp
- Principal amount $3,333,333 with $333,333 OID; net proceeds $3,000,000.
- Note bears 10% annual interest; maturity 12 months from May 13, 2025.
- Conversion price is lower of $0.001 or lowest VWAP prior to each tranche advance.
- For each $1 of principal, investor receives warrant to buy 1,000 shares at $0.001 for 5 years.
- 80% of proceeds must be used to purchase crypto assets; remainder for working capital.