debt
confidence high
sentiment neutral
materiality 0.60
Can B Corp. raises $540k via convertible notes and warrants to Mast Hill and Blue Lake
Can B Corp
- Mast Hill note: $350k principal, 10% OID (net $315k), convertible at $4/share, 12% interest.
- Mast Hill warrant: 54,687 shares at $6.40; subject to price adjustment if S-1 declared effective.
- Blue Lake note: $250k principal, net $225k, same convertible terms; warrant for 39,062 shares at $6.40.
- Both agreements include prepayment penalties, anti-dilution protections, and piggyback registration rights.
- Transactions closed on March 25, 2022; securities issued under Regulation D Section 4(a)(2).