UPEXI, INC. (UPXI): debt financing — Upexi issues $2.71M in promissory notes to accredited investors

UPEXI, INC.

Issued $2,150,000 Note A with 134,000 PIK shares and $560,000 Note B at 10% interest.
Both notes mature November 22, 2024; Note A principal payments start Dec 2023, Note B interest-only for 9 months.
Note A convertible into common stock at $5.00 per share; both notes issued under Regulation D to accredited investors.
Notes contain standard restrictive legends and are unregistered; prepayment allowed at any time.

item 2.03 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

UPEXI, INC. incurred loan of $2,150,000 maturing November 22, 2024.

Instrument: loan
Principal: $2,150,000
Maturity: November 22, 2024
Event: incurrence

Exact text from the filing

Sheet Arrangement of a Registrant. On February 22, 2023, Upexi, Inc. (the “ Company ”) issued promissory notes to two individual accredited investors in the principal amounts of $2,150,000 (“ Note A ”), and $560,000 (“ Note B ,” and, together with Note A, the “ Notes ”). Note A has a term of 21 months, provides for payment in kind interest and fees, payable on the

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

UPEXI, INC. incurred loan of $560,000 at 10% per annum maturing November 22, 2024.

Instrument: loan
Principal: $560,000
Rate: 10% per annum
Maturity: November 22, 2024
Event: incurrence

Exact text from the filing

On February 22, 2023, Upexi, Inc. (the “ Company ”) issued promissory notes to two individual accredited investors in the principal amounts of $2,150,000 (“ Note A ”), and $560,000 (“ Note B ,” and, together with Note A, the “ Notes ”). Note A has a term of 21 months, provides for payment in kind interest and fees, payable on the date of issuance, in the

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UPEXI, INC. filing history →

Source: SEC EDGAR

accession 0001477932-23-001235

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