debt
confidence high
sentiment neutral
materiality 0.60
Wetouch Technology issues $500K in convertible notes with warrants to two lenders
Wetouch Technology Inc.
- Issued $250K convertible notes to FirstFire Global Opportunities (Nov 16) and LGH Investments (Nov 24).
- Net proceeds of $225K per note ($450K total) after original discount; 8% interest, one-year maturity.
- Issued warrants for 200K shares each at $1.25/share; exercise price adjusts if uplist offering ≤180 days.
- Conversion price set at $0.75/share or 70% of uplist offering price if ≥$15M within 180 days.
- Registration rights granted; 10% prepayment penalty; no variable-priced securities while notes outstanding.