Rapid Therapeutic Science Laboratories, Inc.: debt financing — RTSL extends $2.35M convertible debt to Dec 2023, issues 5M warrants at $0.01

Rapid Therapeutic Science Laboratories, Inc.

Amended two convertible debentures totaling $2,352,940; maturity extended to earliest of qualified offering, exchange listing, or Dec 31, 2023.
Conversion price set at 65% of lowest 10-day VWAP; existing warrants repriced to $0.01/share, extended to Aug 2028.
Issued new warrants for 5,000,000 shares at $0.01 with 5.5-year term expiring Feb 2029; full mutual release of all past claims.
Company had been in continuous default since Sep 2022; all prior defaults waived under the agreement.
Potential dilution includes 582,354 shares from existing warrants plus 5M from new warrants, all at $0.01.

item 1.01 item 2.03 item 3.02 item 3.03 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

Rapid Therapeutic Science Laboratories, Inc. amended convertible notes of $1,941,176 with an accredited investor maturing no later than December 31, 2023.

Instrument: convertible notes
Principal: $1,941,176
Counterparty: an accredited investor
Maturity: no later than December 31, 2023
Event: amendment

Exact text from the filing

(the “ Company ”, “ we ” or “ us ”), entered into a Second Amendment, Waiver and Purchase Agreement (the “Agreement”) with an accredited investor (the “ Purchaser ”), pursuant to which the Company amended the terms and extended the maturity of the following obligations: (i) Convertible Debenture payable to the Purchaser, dated August 1, 2021, in the total amount of $1,941,176; and (ii) Convertible Debenture payable to the Purchaser, dated May 31, 2022, in the total amount of $411,764, both of which are past due the current maturity date, until no later than December 31, 2023 (collectively, the “ Debentures ”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Rapid Therapeutic Science Laboratories, Inc. amended convertible notes of $411,764 with an accredited investor maturing no later than December 31, 2023.

Instrument: convertible notes
Principal: $411,764
Counterparty: an accredited investor
Maturity: no later than December 31, 2023
Event: amendment

Exact text from the filing

(the “ Company ”, “ we ” or “ us ”), entered into a Second Amendment, Waiver and Purchase Agreement (the “Agreement”) with an accredited investor (the “ Purchaser ”), pursuant to which the Company amended the terms and extended the maturity of the following obligations: (i) Convertible Debenture payable to the Purchaser, dated August 1, 2021, in the total amount of $1,941,176; and (ii) Convertible Debenture payable to the Purchaser, dated May 31, 2022, in the total amount of $411,764, both of which are past due the current maturity date, until no later than December 31, 2023 (collectively, the “ Debentures ”).

View on SEC.gov

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

Rapid Therapeutic Science Laboratories, Inc. amended Second Amendment, Waiver and Purchase Agreement with an accredited investor valued at $2,352,940 (effective 2023-08-22).

Action: amendment
Agreement: equity purchase
Counterparty: an accredited investor
Value: $2,352,940
Effective: 2023-08-22

Exact text from the filing

On August 22, 2023, Rapid Therapeutic Science Laboratories, Inc. (the “ Company ”, “ we ” or “ us ”), entered into a Second Amendment, Waiver and Purchase Agreement (the “Agreement”) with an accredited investor (the “ Purchaser ”), pursuant to which the Company amended the terms and extended the maturity of the following obligations: (i) Convertible Debenture payable to the Purchaser, dated August 1, 2021, in the total amount of $1,941,176; and (ii) Convertible Debenture payable to the Purchaser, dated May 31, 2022, in the total amount of $411,764, both of which are past due the current maturity date, until no later than December 31, 2023 (collectively, the “ Debentures ”).

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001393905-23-000314

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.