debt
confidence high
sentiment neutral
materiality 0.70
LiqTech International issues $1.1M in 9.09% discount promissory notes to Bleichroeder and Lytton affiliates
LIQTECH INTERNATIONAL INC
- Sold $1.1M aggregate principal of 9.09% original discount notes for $1M to affiliates of Bleichroeder L.P. and Laurence W. Lytton.
- Notes have a two-month term with no interest unless unpaid at maturity, then 10% annual rate increasing 1% monthly up to 16%.
- Proceeds from the notes will be used for working capital and general corporate purposes.
- Notes are senior obligations ranking first in payment priority except for trade payables and purchase money indebtedness.