debt
confidence high
sentiment negative
materiality 0.35
Rainmaker Worldwide issues $49,250 convertible note at 10%, 35% discount to market
Rainmaker Worldwide Inc.
- Note principal $49,250, matures Sept 12, 2023; interest 10% p.a. (22% default).
- Conversion price set at 65% of lowest closing bid price over prior 10 trading days.
- Issued under Stock Purchase Agreement; unregistered sale exempt under Rule 506(b).
- Company may prepay within first 180 days at variable premiums.