Vicapsys Life Sciences, Inc. (VICP): debt financing — Vicapsys Life Sciences issues $330K note to AJB Capital, 10% interest, 8% OID, due Dec 2023

Vicapsys Life Sciences, Inc.

Principal $330,000, purchase price $303,600 (8% OID), 10% annual interest, maturity December 27, 2023.
Issued 328,571 unregistered commitment fee shares to AJB Capital as part of the agreement.
Default triggers 150% acceleration, 18% interest, and conversion at average of 3 lowest VWAP prices.
Proceeds from the note will be used for general working capital purposes.
Note is convertible into common stock upon an event of default at a formula-based conversion price.

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

Vicapsys Life Sciences, Inc. incurred loan of $330,000 with AJB Capital Investments, LLC at 10% a year maturing December 27, 2023.

Instrument: loan
Principal: $330,000
Counterparty: AJB Capital Investments, LLC
Rate: 10% a year
Maturity: December 27, 2023
Event: incurrence

Exact text from the filing

On June 27, 2023, we entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of $330,000 (the “note”) to AJB pursuant to the SPA for an purchase price of $303,600.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

Vicapsys Life Sciences, Inc. entered into SPA with AJB Capital Investments, LLC valued at principal amount of $330,000 (effective 2023-06-27).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments, LLC
Value: principal amount of $330,000
Effective: 2023-06-27

Exact text from the filing

On June 27, 2023, we entered into a securities purchase agreement (the "SPA") with AJB Capital Investments, LLC ("AJB") and issued a promissory note in the principal amount of $330,000 (the "note") to AJB pursuant to the SPA for an purchase price of $303,600.

View on SEC.gov

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Vicapsys Life Sciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-023183

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