Eightco enters $8.215M prepayment deal to redeem convertible notes and warrants, halting conversion

Eightco Holdings Inc.

Total payment of $8.215M in six installments; initial $3M paid Oct 23, 2023.
2023 Note ($5.555M principal) and 2022 Note ($2M remaining) being prepaid.
After initial payment, 2023 Note non-convertible and warrants fully redeemed.
Monthly installments from Nov 15, 2023 to Mar 15, 2024, ranging $150k–$2.275M.
CEO states reduction in potential dilution from conversion rights.

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

Eightco Holdings Inc. entered into Prepayment and Redemption Agreement with an accredited investor valued at $8,215,000 (effective 2023-10-23).

Action: entry
Counterparty: an accredited investor
Value: $8,215,000
Effective: 2023-10-23

Exact text from the filing

Eightco Holdings Inc. (the “Company”) entered in to a Prepayment and Redemption Agreement (the “Prepayment Agreement”), by and between the Company and an accredited investor (the “Investor”), pursuant to which, among things, the Company agreed to prepay the Notes (as defined below) and to redeem the 2023 Warrant (as defined below) that remains outstanding as of the Effective Date

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622 material agreements filed in the last 30 days. Browse all material agreements →

Eightco Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-038043

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