INVO Fertility, Inc. (IVF): debt financing — INVO Bioscience issues $200K convertible debenture at 8% interest, with warrants and commitment shares

INVO Fertility, Inc.

Issued $200,000 convertible debenture to Firstfire Global Opportunities Fund at $180,000 purchase price (10% OID).
Debenture carries 8% annual interest, matures Feb 17, 2024; convertible at $0.52 per share initially.
Also issued warrant to buy 100,000 shares at $0.75 and 33,333 commitment shares as inducement.
Proceeds used for working capital; placement agent fee $14,400.
Exchange cap of 2,436,045 shares (19.99% of outstanding) unless shareholder approval obtained.

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

INVO Fertility, Inc. incurred convertible notes of $200,000 with Firstfire Global Opportunities Fund, LLC at 8% per annum maturing February 17, 2024.

Instrument: convertible notes
Principal: $200,000
Counterparty: Firstfire Global Opportunities Fund, LLC
Rate: 8% per annum
Maturity: February 17, 2024
Event: incurrence

Exact text from the filing

On February 17 2023 (the “Closing”), INVO Bioscience, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Firstfire Global Opportunities Fund, LLC, an accredited investor (the “Buyer”) for the purchase of (i) a convertible debenture of the Company (the “Debenture”) in the aggregate original principal amount of $200,000

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

INVO Fertility, Inc. entered into Purchase Agreement with Firstfire Global Opportunities Fund, LLC valued at $200,000 (effective 2023-02-17).

Action: entry
Agreement: equity purchase
Counterparty: Firstfire Global Opportunities Fund, LLC
Value: $200,000
Effective: 2023-02-17

Exact text from the filing

On February 17 2023 (the “Closing”), INVO Bioscience, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Firstfire Global Opportunities Fund, LLC, an accredited investor (the “Buyer”) for the purchase of (i) a convertible debenture of the Company (the “Debenture”) in the aggregate original principal amount of $200,000

View on SEC.gov

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

INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-005872

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