Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.99
PetVivo Holdings, Inc. incurred convertible notes of $550,000 with three accredited investors at 10% per annum maturing January 26, 2024.
- Instrument
- convertible notes
- Principal
- $550,000
- Counterparty
- three accredited investors
- Rate
- 10% per annum
- Maturity
- January 26, 2024
- Event
- incurrence
Exact text from the filing
On July 27, 2023, PetVivo Holdings, Inc. (the “Company”) issued convertible promissory notes (“Convertible Notes”) in the aggregate amount of $550,000 to three accredited investors pursuant to debenture subscription agreements (“Debenture Subscription Agreement”). The Convertible Notes mature on January 26, 2024 (the “Maturity Date”), bear interest at a rate of 10% per annum and automatically convert into shares of the Company’s common stock which are restricted under Rule 144 of the Securities Act of 1933, as amended, on the earlier of (i) the Maturity Date or (ii) upon the occurrence of certain events prior to the Maturity Date, including, without limitation, a Qualified Financing, Sale or Public Offering (as such terms are defined in the Convertible Notes).
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