debt
confidence high
sentiment neutral
materiality 0.30
Rainmaker Worldwide issues $64,250 convertible note with 10% interest and 35% conversion discount
Rainmaker Worldwide Inc.
- Principal amount of $64,250; interest at 10% per annum, rising to 22% upon default.
- Note matures June 28, 2023; convertible into common stock at 65% of market price (35% discount).
- Company may prepay within first 180 days at specified premiums.
- Issuance is an unregistered sale under Section 4(a)(2) and Rule 506(b).