other material
confidence high
sentiment neutral
materiality 0.55
TurnOnGreen enters $25M equity line with GCEF Opportunity Fund
TurnOnGreen, Inc.
- Signed ELOC Purchase Agreement with GCEF for up to $25M of common stock over 36 months.
- Shares sold at 90% of avg daily closing price during 30-day pricing period; draw limited to 400% of 30-day avg volume.
- Commitment fee of 2% of Aggregate Limit in shares/cash; warrant for 2% of outstanding shares at strike = closing price on listing date.
- Company controls timing and amount of draws; GCEF covenant not to short or hedge.
- Minimum price threshold $0.01; beneficial ownership cap 4.99% per draw.