debt
confidence high
sentiment negative
materiality 0.70
Global Technologies issues $43,750 convertible note with 39% discount; 286.9M shares reserved
GLOBAL TECHNOLOGIES LTD
- $43,750 convertible note issued to Sixth Street Lending, 8% interest, matures Jan 13, 2023; convertible after 180 days at 61% of lowest 10-day bid price.
- 286,885,245 shares reserved for conversion, representing six times the shares issuable at current conversion price.
- Default interest of 22% applies to unpaid amounts; note carries 4.99% beneficial ownership limitation.