debt
confidence high
sentiment neutral
materiality 0.40
Wetouch Technology issues $250K convertible note with warrant to Talos Victory Fund
Wetouch Technology Inc.
- Issued $250K convertible promissory note at 8% interest, due in one year; received $225K gross proceeds after original discount.
- Lender received 200,000-share warrant exercisable at $1.25/share, adjustable based on future uplist offering price.
- Conversion price initially $0.75/share, but may be 70% of uplist offering price if uplist occurs within 180 days.
- Registration rights granted to file resale registration by Dec 26, 2021 for shares underlying note and warrant.
- Craft Capital Management received $18,000 fee in connection with the placement.