debt
confidence high
sentiment neutral
materiality 0.75
La Rosa Holdings closes $11M convertible note; $7M to buy crypto, $2M for CEO preferred redemption
La Rosa Holdings Corp.
- Issued $11M principal senior secured convertible note at $9.9M; conversion price $0.8347 with $0.778 floor.
- 10% interest, 24-month maturity; events of default raise rate to 19%.
- Net proceeds $9.635M: $7M for crypto treasury asset, $2M to redeem 200 Series X Super Voting Preferred shares from CEO, $500k held for future redemptions.
- Company filed Certificate of Amendment on Dec 22 to permit Series X redemption; 200 shares redeemed on Jan 8.
- Intellectual Property Security Agreement granted lien on IP to collateralize the note.