HUMBL signs $2.04M Series C Preferred financing with Pacific Lion; first $300K received

TAP REAL ESTATE TECHNOLOGIES, INC.

Total $2.04M over 6 months: $300K/month Oct 2023–Mar 2024 plus extra $240K in Nov 2023.
Series C Preferred converts automatically at 25% discount upon national exchange uplist within 2 years; no voting rights.
12-month lock-up/leak-out applies after uplist; prohibition on variable-rate financings with new investors.
HUMBL retired over $20M in legacy debt in FY 2023; funds support operations through April 2024.
CEO Brian Foote says financing positions company for Q4 2023 product launches and sales expansion.

Key facts

Extracted from this filing and checked against the source text.

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

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Securities Purchase Agreement with Pacific Lion LLC valued at $300,000 in Series C Stock for each month from October 2023 through March 2024 (effective 2023-10-03).

Action: entry
Agreement: equity purchase
Counterparty: Pacific Lion LLC
Value: $300,000 in Series C Stock for each month from October 2023 through March 2024
Effective: 2023-10-03

Exact text from the filing

On October 3, 2023, the registrant, HUMBL, Inc. (“HUMBL”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Pacific Lion LLC (“Pacific Lion”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Letter Agreement with Pacific Lion LLC (effective 2023-10-09).

Action: entry
Counterparty: Pacific Lion LLC
Effective: 2023-10-09

Exact text from the filing

greement”) with Pacific Lion LLC (“Pacific Lion”). Pursuant to the Purchase Agreement, Pacific Lion agreed to purchase shares of to-be-created Series C Preferred Stock (“Series C Stock”) in accordance with a set funding schedule.

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TAP REAL ESTATE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-037227

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