Crypto Co (CRCW): debt financing — Crypto Company borrows $88,760 via convertible note with 12% interest and 75% conversion discount

Crypto Co

Principal amount $88,760 with original issue discount; net proceeds for general working capital.
Interest at 12% per annum, payable as one-time charge of $10,651 added to principal on issuance.
Maturity date December 9, 2023; monthly payments begin January 30, 2023.
Conversion price equals 75% of lowest trading price with 10-day lookback, subject to 4.99% beneficial ownership cap.
Issued to 1800 Diagonal Lending, LLC in a private offering exempt from registration.

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

Crypto Co incurred convertible notes of $88,760 with 1800 Diagonal Lending, LLC at twelve percent (12.0%) per annum maturing December 9, 2023.

Instrument: convertible notes
Principal: $88,760
Counterparty: 1800 Diagonal Lending, LLC
Rate: twelve percent (12.0%) per annum
Maturity: December 9, 2023
Event: incurrence

Exact text from the filing

Effective December 15, 2022, The Crypto Company (the “Company”) borrowed funds pursuant to a Securities Purchase Agreement (the “SPA”) entered into with 1800 Diagonal Lending, LLC (“Diagonal”), and Diagonal purchased a convertible promissory note (the “Note”) from the Company in the aggregate principal amount of $88,760 (giving effect to an original issue discount).

View on SEC.gov

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

Crypto Co entered into Securities Purchase Agreement with 1800 Diagonal Lending, LLC valued at $88,760 (effective 2022-12-15).

Action: entry
Agreement: equity purchase
Counterparty: 1800 Diagonal Lending, LLC
Value: $88,760
Effective: 2022-12-15

Exact text from the filing

Effective December 15, 2022, The Crypto Company (the “Company”) borrowed funds pursuant to a Securities Purchase Agreement (the “SPA”) entered into with 1800 Diagonal Lending, LLC (“Diagonal”), and Diagonal purchased a convertible promissory note (the “Note”) from the Company in the aggregate principal amount of $88,760 (giving effect to an original issue discount).

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

Crypto Co filing history →

Source: SEC EDGAR

accession 0001493152-22-036163

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.