Clean Energy Technologies, Inc. (CETY): debt financing — Clean Energy Technologies issues $191,526 convertible note to 1800 Diagonal Lending

Clean Energy Technologies, Inc.

Principal $191,526 includes $19,760 original issue discount; 10% annual interest; matures Dec 5, 2023.
Conversion price set at 70% of lowest VWAP for the prior 5 trading days; 4.99% beneficial ownership blocker.
Proceeds used to satisfy existing note with Diagonal and for general working capital.
Private placement exempt from registration under Section 4(a)(2); notes and shares bear restrictive legend.
Company has right to prepay without penalty; default triggers acceleration and additional amounts.

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

Clean Energy Technologies, Inc. incurred convertible notes of $191,526 with 1800 Diagonal Lending, LLC at ten percent (10.0%) per annum maturing December 5, 2023.

Instrument: convertible notes
Principal: $191,526
Counterparty: 1800 Diagonal Lending, LLC
Rate: ten percent (10.0%) per annum
Maturity: December 5, 2023
Event: incurrence

Exact text from the filing

On December 7, 2202, Clean Energy Technologies, Inc. (the “Company”) closed a transaction whereby entered into to a Securities Purchase Agreement (the “SPA”) with 1800 Diagonal Lending, LLC (“Diagonal”), dated December 5, 2022, and issued a convertible note (the “Note”) to Diagonal in the aggregate principal amount of $191,526 (including an original issue discount of $19,760).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clean Energy Technologies, Inc. entered into Securities Purchase Agreement with 1800 Diagonal Lending, LLC (effective 2022-12-05).

Action: entry
Agreement: equity purchase
Counterparty: 1800 Diagonal Lending, LLC
Effective: 2022-12-05

Exact text from the filing

On December 7, 2202, Clean Energy Technologies, Inc. (the “Company”) closed a transaction whereby entered into to a Securities Purchase Agreement (the “SPA”) with 1800 Diagonal Lending, LLC (“Diagonal”), dated December 5, 2022

View on SEC.gov

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Clean Energy Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-035203

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