debt
confidence high
sentiment neutral
materiality 0.75
Brag House secures up to $100M equity line and $11M convertible note from institutional investor
Brag House Holdings, Inc.
- Company can sell up to $100M of common stock at 97% of VWAP over 36 months; $1M commitment fee payable from 10% of proceeds.
- Issued convertible note with up to $11M principal; first $3.85M advance closed at 90% of par, net $3.465M delivered to House of Doge.
- Conversion price set at 95% of lowest daily VWAP over 5 preceding days; beneficial ownership capped at 4.99% (may increase to 9.99%).
- HOD note amended: principal raised from $8M to $10M; Company's lien subordinated to investor's lien.
- Nasdaq cap of 3,957,838 shares (19.99% of pre-deal outstanding) applies unless stockholder approval obtained.
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