Guerilla RF issues $500K convertible note at 16% interest, convertible at $6/share

Guerrilla RF, Inc.

Principal $500,000, simple interest 16% p.a., maturity Dec. 31, 2024.
Conversion price $6.00 per share; convertible at holder's election after maturity or upon corporate transaction.
Issued to accredited investor under Section 4(a)(2); terms mirror July 18 placement except higher rate.
Automatic conversion upon next equity financing of at least $2M aggregate proceeds.

Key facts

Extracted from this filing and checked against the source text.

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

Guerrilla RF, Inc. entered into Purchase Agreement with an accredited investor valued at $500,000.00 (effective 2023-07-24).

Action: entry
Agreement: notes offering
Counterparty: an accredited investor
Value: $500,000.00
Effective: 2023-07-24

Exact text from the filing

On July 24, 2023, the Company entered into a Note Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Purchaser”) pursuant to which the Company issued an unsecured convertible promissory note (the “Convertible Note”) in the principal amount of $500,000.00.

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Guerrilla RF, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-020856

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