8-K
filed October 25, 2023, 7:59 PM ET
CIK 0001892480
other material
confidence high
sentiment neutral
materiality 0.65
Hempacco Co., Inc.: debt financing — Hempacco raises ~$1M via convertible notes, warrants, and shares with two funds
Hempacco Co., Inc.
- FirstFire purchased $277,778 note, 120,370 warrants, 27,777 shares for $250,000 gross; net $220,000.
- Mast Hill purchased $835,000 note, 361,832 warrants, 83,497 shares for $751,500 gross; net $686,760.
- Notes bear 10% interest, mature in 12 months, convertible at $1.50/share; warrants at $1.50 for 5 years.
- Proceeds first for purchase order #213420187, then working capital; shareholder approval needed above 5.78M share cap.
- Registration statement for resale due within 90 days of closing, effective within 120 days.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Hempacco Co., Inc. incurred convertible notes of principal amount of $835,000 with Mast Hill Fund, L.P. at 10% per annum guaranteed interest maturing 12 months following the issue date.
- Instrument
- convertible notes
- Principal
- principal amount of $835,000
- Counterparty
- Mast Hill Fund, L.P.
- Rate
- 10% per annum guaranteed interest
- Maturity
- 12 months following the issue date
- Event
- incurrence
Exact text from the filing
Effective October 20, 2023, the Company entered into a securities purchase agreement (the " Mast Hill SPA ," and together with the FirstFire SPA the " SPAs ") with Mast Hill Fund, L.P., a Delaware limited partnership (" Mast Hill "), pursuant to which the Company sold, and Mast Hill purchased, (i) a convertible promissory note in the principal amount of $835,000 (the " Mast Hill Note ," and together with the FirstFire Note the " Notes "), (ii) warrants to purchase 361,832 shares of Company common stock (the " Mast Hill Warrants ," and together with the FirstFire Warrants the " Warrants "), and (iii) 83,497 shares of Company common stock (the " Mast Hill Shares ," and together with the FirstFire Shares the " Shares "), for an aggregate purchase price of $751,500 (the " Mast Hill Transaction ," and together with the FirstFire Transaction the " Financing Transactions "), and the Company entered into a registration rights agreement with Mast Hill (the " Mast Hill RRA ," and together with t
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Hempacco Co., Inc. incurred convertible notes of principal amount of $277,777.78 with FirstFire Global Opportunities Fund, LLC at 10% per annum guaranteed interest maturing 12 months following the issue date.
- Instrument
- convertible notes
- Principal
- principal amount of $277,777.78
- Counterparty
- FirstFire Global Opportunities Fund, LLC
- Rate
- 10% per annum guaranteed interest
- Maturity
- 12 months following the issue date
- Event
- incurrence
Exact text from the filing
Effective October 19, 2023, Hempacco Co., Inc. (the " Company "), entered into a securities purchase agreement (the " FirstFire SPA ") with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (" FirstFire "), pursuant to which the Company sold, and FirstFire purchased, (i) a convertible promissory note in the principal amount of $277,777.78 (the " FirstFire Note "), (ii) warrants to purchase 120,370 shares of Company common stock (the " FirstFire Warrants "), and (iii) 27,777 shares of Company common stock (the " FirstFire Shares "), for an aggregate purchase price of $250,000 (the " FirstFire Transaction "), and the Company also entered into a registration rights agreement with FirstFire (the " FirstFire RRA ").
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
Hempacco Co., Inc. entered into Mast Hill Securities Purchase Agreement with Mast Hill Fund, L.P. valued at aggregate purchase price of $751,500 for convertible promissory note principal amount $835,000, warr (effective 2023-10-20).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Mast Hill Fund, L.P.
- Value
- aggregate purchase price of $751,500 for convertible promissory note principal amount $835,000, warr
- Effective
- 2023-10-20
Exact text from the filing
Effective October 20, 2023, the Company entered into a securities purchase agreement (the “ Mast Hill SPA ,” and together with the FirstFire SPA the “ SPAs ”) with Mast Hill Fund, L.P., a Delaware limited partnership (“ Mast Hill ”), pursuant to which the Company sold, and Mast Hill purchased, (i) a convertible promissory note in the principal amount of $835,000 (the “ Mast Hill Note ,” and together with the FirstFire Note the “ Notes ”), (ii) warrants to purchase 361,832 shares of Company common stock (the “ Mast Hill Warrants ,” and together with the FirstFire Warrants the “ Warrants ”), and (iii) 83,497 shares of Company common stock (the “ Mast Hill Shares ,” and together with the FirstFire Shares the “ Shares ”), for an aggregate purchase price of $751,500 (the “ Mast Hill Transaction ,” and together with the FirstFire Transaction the “ Financing Transactions ”), and the Company entered into a registration rights agreement with Mast Hill (the “ Mast Hill RRA ,” and together with t
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.85
Hempacco Co., Inc. entered into FirstFire Convertible Promissory Note with FirstFire Global Opportunities Fund, LLC valued at principal amount of $277,777.78, matures 12 months, interest 10% per annum, convertible into common (effective 2023-10-19).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- FirstFire Global Opportunities Fund, LLC
- Value
- principal amount of $277,777.78, matures 12 months, interest 10% per annum, convertible into common
- Effective
- 2023-10-19
Exact text from the filing
(the “ Company ”), entered into a securities purchase agreement (the “ FirstFire SPA ”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (“ FirstFire ”), pursuant to which the Company sold, and FirstFire purchased, (i) a convertible promissory note in the principal amount of $277,777.78 (the “ FirstFire Note ”), (ii) warrants to purchase 120,370 shares of Company common stock (the “ FirstFire Warrants ”), and (iii) 27,777 shares of Company common stock (the “ FirstFire Shares ”), for an aggregate purchase price of $250,000 (the “ FirstFire Transaction ”), and the Company also entered into a registration rights agreement with FirstFire (the “ FirstFire RRA ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.85
Hempacco Co., Inc. entered into Mast Hill Convertible Promissory Note with Mast Hill Fund, L.P. valued at principal amount of $835,000, matures 12 months, interest 10% per annum, convertible into common sto (effective 2023-10-20).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Mast Hill Fund, L.P.
- Value
- principal amount of $835,000, matures 12 months, interest 10% per annum, convertible into common sto
- Effective
- 2023-10-20
Exact text from the filing
Effective October 20, 2023, the Company entered into a securities purchase agreement (the “ Mast Hill SPA ,” and together with the FirstFire SPA the “ SPAs ”) with Mast Hill Fund, L.P., a Delaware limited partnership (“ Mast Hill ”), pursuant to which the Company sold, and Mast Hill purchased, (i) a convertible promissory note in the principal amount of $835,000 (the “ Mast Hill Note ,” and together with the FirstFire Note the “ Notes ”), (ii) warrants to purchase 361,832 shares of Company common stock (the “ Mast Hill Warrants ,” and together with the FirstFire Warrants the “ Warrants ”), and (iii) 83,497 shares of Company common stock (the “ Mast Hill Shares ,” and together with the FirstFire Shares the “ Shares ”), for an aggregate purchase price of $751,500 (the “ Mast Hill Transaction ,” and together with the FirstFire Transaction the “ Financing Transactions ”), and the Company ent
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
Hempacco Co., Inc. entered into FirstFire Securities Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at aggregate purchase price of $250,000 for convertible promissory note principal amount $277,777.78, w (effective 2023-10-19).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- FirstFire Global Opportunities Fund, LLC
- Value
- aggregate purchase price of $250,000 for convertible promissory note principal amount $277,777.78, w
- Effective
- 2023-10-19
Exact text from the filing
Effective October 19, 2023, Hempacco Co., Inc. (the “ Company ”), entered into a securities purchase agreement (the “ FirstFire SPA ”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (“ FirstFire ”), pursuant to which the Company sold, and FirstFire purchased, (i) a convertible promissory note in the principal amount of $277,777.78 (the “ FirstFire Note ”), (ii) warrants to purchase 120,370 shares of Company common stock (the “ FirstFire Warrants ”), and (iii) 27,777 shares of Company common stock (the “ FirstFire Shares ”), for an aggregate purchase price of $250,000 (the “ FirstFire Transaction ”), and the Company also entered into a registration rights agreement with FirstFire (the “ FirstFire RRA ”).
View on SEC.gov
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