debt
confidence high
sentiment negative
materiality 0.70
NFiniTi raises $500K via convertible note with 50% OID, 15% interest, and heavy discount conversion
NFiniTi inc.
- Issued $1M face convertible note with 50% original issue discount, net proceeds $500K to RH2 Equity Partners.
- Interest at 15% p.a.; principal and interest due May 20, 2026; prepayable at 115%-125% premium.
- Conversion price at 75% of lowest 30-day VWAP; Holder ownership capped at 4.99% (can increase to 9.99%).
- Company to file S-1 registration within 30 days; MFN clause and 12-month ROFR for Holder on future offerings.
- Company is a shell company; proceeds for working capital and potential acquisitions.
item 1.01item 3.02item 9.01