FORUM MARKETS Inc (FRMM): debt financing — 180 Life Sciences closes $150M convertible note financing; appoints Executive Chairman

FORUM MARKETS Inc

Issued $156.25M senior secured convertible notes at 96% of par; conversion price $3.445, subject to reset after 9 months.
Notes bear 0% interest for 6 months, then 4% p.a., rising to 18% upon default; secured by $44.5M ETH and $156.25M cash.
Appointed McAndrew Rudisill as Executive Chairman; Board formed Investment Committee to oversee digital assets.
Granted additional warrants to strategic advisors for 9.07M shares at $3.445; stock options awarded to CEO, Lead Director, and others.
Company plans to seek stockholder approval for share issuance and option plan within 12 months.

item 1.01 item 2.03 item 3.02 item 5.02 item 3.03 item 7.01 item 8.01 item 9.01

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

FORUM MARKETS Inc incurred convertible notes of aggregate principal amount of $156,250,000 with investment funds managed by an institutional investor at 0.00% per annum for the first six months, and 4.00% per annum for the following maturing the third year anniversary of the issuance date of the Convertible Notes.

Instrument: convertible notes
Principal: aggregate principal amount of $156,250,000
Counterparty: investment funds managed by an institutional investor
Rate: 0.00% per annum for the first six months, and 4.00% per annum for the following
Maturity: the third year anniversary of the issuance date of the Convertible Notes
Event: incurrence

Exact text from the filing

“ Investor ”), under which the Company agreed to sell and issue to the Investor senior secured convertible notes (the “ Convertible Notes ”) in aggregate principal amount of $156,250,000 (the “ Principal Amount ”) in exchange for cash equal to 96.0% of the Principal Amount (the “ Debt Financing ”). The Company closed the Debt Financing simultaneously with the

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FORUM MARKETS Inc filing history →

Source: SEC EDGAR

accession 0001213900-25-074030

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