HeartCore secures up to $27M financing: $25M equity line + $2M convertible preferred from Crom Fund

HeartCore Enterprises, Inc.

Equity Purchase Agreement: HeartCore may sell up to $25M of common stock to Crom over 24 months at a discount of 50% of average daily trading volume.
Securities Purchase Agreement: Crom buys 2,000 shares of Series A Convertible Preferred at $1,000/share ($2M gross), stated value $1,100/share.
Conversion price for preferred is 90% of avg of two lowest VWAPs over prior 5 trading days; 750,000 common shares issued to Crom for no additional cost.
Proceeds to support M&A strategy, software growth initiatives, and Nasdaq equity compliance (minimum $2.5M stockholders' equity).
Company may not issue more than 19.99% of outstanding common stock without stockholder approval under Nasdaq rules.

item 1.01 item 3.02 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

HeartCore Enterprises, Inc.: Filed Certificate of Designations for Series A Convertible Preferred Stock (effective 2025-06-30).

Change: charter amendment
Effective: 2025-06-30

Exact text from the filing

On June 30, 2025, the Company filed a Certificate of Designations of Preferences, Rights and Limitations of the Series A Convertible Preferred Stock (“Certificate of Designation”) with the Secretary of State of the State of Delaware.

View on SEC.gov

Browse all governance changes →

HeartCore Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-059980

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.