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 $5,000 at 12% per annum maturing February 1, 2025.
- Instrument
- convertible notes
- Principal
- $5,000
- Rate
- 12% per annum
- Maturity
- February 1, 2025
- Event
- incurrence
Exact text from the filing
On February 1, 2024, the Company entered into a securities purchase agreement with an investor, pursuant to which the Company issued the investor a convertible note in principal amount of $5,000 in exchange for $5,000. The maturity of the convertible note is February 1, 2025 and carries an interest rate of 12% per annum
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
iCoreConnect Inc. incurred convertible notes of $50,000 at 12% per annum maturing February 1, 2025.
- Instrument
- convertible notes
- Principal
- $50,000
- Rate
- 12% per annum
- Maturity
- February 1, 2025
- Event
- incurrence
Exact text from the filing
On February 1, 2024, the Company entered into a securities purchase agreement with an investor, pursuant to which the Company issued the investor a convertible note in principal amount of $50,000 in exchange for $50,000. The maturity of the convertible note is February 1, 2025 and carries an interest rate of 12% per annum
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
iCoreConnect Inc. entered into Securities Purchase Agreement and Convertible Note with Investor valued at $55,000 total principal amount of convertible notes ($50,000 and $5,000) (effective 2024-02-01).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Investor
- Value
- $55,000 total principal amount of convertible notes ($50,000 and $5,000)
- Effective
- 2024-02-01
Exact text from the filing
On February 1, 2024, the Company entered into a securities purchase agreement with an investor, pursuant to which the Company issued the investor a convertible note in principal amount of $50,000 in exchange for $50,000. The maturity of the convertible note is February 1, 2025 and carries an interest rate of 12% per annum and is initially convertible into Company common stock at a conversion rate equal to 120% of the closing price of the Company’s common stock on the date of issuance. On February 1, 2024, the Company entered into a securities purchase agreement with an investor, pursuant to which the Company issued the investor a convertible note in principal amount of $5,000 in exchange for $5,000.
View on SEC.gov