8-K
filed December 22, 2023, 6:59 PM ET
CIK 0001906133
debt
confidence high
sentiment neutral
materiality 0.65
iCoreConnect Inc.: debt financing — iCoreConnect raises $640k via convertible notes with 12% interest and 120% conversion premium
iCoreConnect Inc.
- Issued $500k convertible note to an existing investor on Dec 18, 2023, maturing Dec 18, 2024.
- Issued two $70k convertible notes to separate investors on Dec 19, 2023, maturing Dec 19, 2024.
- All notes carry 12% annual interest and initial conversion at 120% of closing price on issuance date.
- Notes sold as unregistered securities under Rule 506(b)/Section 4(a)(2) to accredited investors.
- Proceeds used for general corporate purposes; no material change in operations disclosed.
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
iCoreConnect Inc. incurred convertible notes of $500,000 with existing investor at 12% per annum maturing December 18, 2024.
- Instrument
- convertible notes
- Principal
- $500,000
- Counterparty
- existing investor
- Rate
- 12% per annum
- Maturity
- December 18, 2024
- Event
- incurrence
Exact text from the filing
☐ Item 1.01 Entry Into a Material Definitive Agreement On December 18, 2023, the Company entered into a securities purchase agreement with an existing investor, pursuant to which the Company issued the investor a convertible note in principal amount of $500,000 in exchange for $500,000.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
iCoreConnect Inc. incurred convertible notes of $70,000 with two separate investors at 12% per annum maturing December 19, 2024.
- Instrument
- convertible notes
- Principal
- $70,000
- Counterparty
- two separate investors
- Rate
- 12% per annum
- Maturity
- December 19, 2024
- Event
- incurrence
Exact text from the filing
On December 19, 2023, the Company entered into two securities purchase agreements with two separate investors, pursuant to which the Company issued each investor a convertible note each in principal amount of $70,000 in exchange for $70,000 each.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
iCoreConnect Inc. entered into securities purchase agreement with two separate investors valued at $70,000 each (effective 2023-12-19).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- two separate investors
- Value
- $70,000 each
- Effective
- 2023-12-19
Exact text from the filing
On December 19, 2023, the Company entered into two securities purchase agreements with two separate investors, pursuant to which the Company issued each investor a convertible note each in principal amount of $70,000 in exchange for $70,000 each.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
iCoreConnect Inc. entered into securities purchase agreement with an existing investor valued at $500,000 (effective 2023-12-18).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- an existing investor
- Value
- $500,000
- Effective
- 2023-12-18
Exact text from the filing
On December 18, 2023, the Company entered into a securities purchase agreement with an existing investor, pursuant to which the Company issued the investor a convertible note in principal amount of $500,000 in exchange for $500,000.
View on SEC.gov
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