Data443 Risk Mitigation, Inc. (ATDS): debt financing — Data443 issues $750K convertible notes at $0.50 conversion with 20% OID and warrants at $1.155

Data443 Risk Mitigation, Inc.

Sold $750K principal of unsecured convertible notes with 20% original issue discount, net $600K.
Notes convertible at $0.50 per share, zero interest, mature in 12 months or upon listing on NYSE/Nasdaq.
Warrants to purchase up to 100% of conversion shares at $1.155, exercisable from 4 months after uplisting, 5-year term.
Piggyback registration rights granted for underlying shares.
Offered in unregistered transaction under Section 4(a)(2) and Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Data443 Risk Mitigation, Inc. incurred convertible notes of $750,000.00 with a certain accredited investor at do not bear interest maturing the earlier of (i) twelve months from the date of issuance or (ii) the date that the Common Stock is listed for trading on any of The New York Stock Exchange, T.

Instrument: convertible notes
Principal: $750,000.00
Counterparty: a certain accredited investor
Rate: do not bear interest
Maturity: the earlier of (i) twelve months from the date of issuance or (ii) the date that the Common Stock is listed for trading on any of The New York Stock Exchange, T
Event: incurrence

Exact text from the filing

On December 7, 2022, Data443 Risk Mitigation, Inc. (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with a certain accredited investor as purchaser (the “ Investor ”). Pursuant to the Securities Purchase Agreement, the Company sold, and the Investor purchased, $750,000.00 in principal amount of unsecured convertible notes (the “ Notes ”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Data443 Risk Mitigation, Inc. entered into Securities Purchase Agreement with a certain accredited investor valued at $750,000.00 (effective 2022-12-07).

Action: entry
Agreement: equity purchase
Counterparty: a certain accredited investor
Value: $750,000.00
Effective: 2022-12-07

Exact text from the filing

On December 7, 2022, Data443 Risk Mitigation, Inc. (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with a certain accredited investor as purchaser (the “ Investor ”). Pursuant to the Securities Purchase Agreement, the Company sold, and the Investor purchased, $750,000.00 in principal amount of unsecured convertible notes (the “ Notes ”) and warrants (the “ Warrants ”).

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Data443 Risk Mitigation, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-035103

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