TurnOnGreen, Inc. (TOGI): debt financing — Imperalis enters $300k note with FAR Holdings, receives $250k cash and issues warrants

TurnOnGreen, Inc.

Borrowed $250k; issued promissory note with $300k face value ($50k original issue discount), no interest.
Issued warrants to purchase 1,000,000 common shares at $0.044 per share, exercisable for five years.
Note requires three payments of $100k each on May 6, June 6, and July 6, 2023.
Default triggers a 3% fee on overdue amount; prepayment permitted without penalty.

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

TurnOnGreen, Inc. incurred loan of $300,000 with FAR Holdings International, LLC at bears no interest maturing July 6, 2023.

Instrument: loan
Principal: $300,000
Counterparty: FAR Holdings International, LLC
Rate: bears no interest
Maturity: July 6, 2023
Event: incurrence

Exact text from the filing

the Company borrowed $250,000 and issued a promissory note to the Investor in the principal face amount of $300,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TurnOnGreen, Inc. entered into Purchase Agreement with FAR Holdings International, LLC valued at $300,000 (effective 2023-04-06).

Action: entry
Agreement: notes offering
Counterparty: FAR Holdings International, LLC
Value: $300,000
Effective: 2023-04-06

Exact text from the filing

On April 6, 2023 (the “Closing Date”), Imperalis Holding Corp., a Nevada corporation (the “ Company ”), entered into a Purchase Agreement (the “ Agreement ”) with FAR Holdings International, LLC (the “ Investor ”) pursuant to which the Company borrowed $250,000 and issued a promissory note to the Investor in the principal face amount of $300,000 (the “ Note ”).

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37 debt financings filed in the last 30 days. Browse all debt financings →

TurnOnGreen, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-005286

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