ONAR Holding raises $500K in Series E Preferred private placement, convertible at 75% of market price

Onar Holding Corp

• On June 6, 2025, entered Subscription Agreements to sell 500 Series E Preferred shares at $1,000 face value for $500,000 initial proceeds; total offering up to $6M.
• Series E Preferred converts into common stock after authorized shares increased by 150M; conversion price = 75% of prior-day closing market price.
• Annual reset of conversion price to current market price if below conversion price, floor $0.01; anti-dilution adjustment for new issuances below conversion price.
• Series E accrues 8% annual dividends payable in common shares upon conversion; liquidation preference treats as converted to common.
• Offering exempt from registration under Section 4(a)(2)/Reg D; shares not registered under Securities Act.