CETY issues $92K convertible promissory note to 1800 Diagonal Lending

Clean Energy Technologies, Inc.

Note principal $92K, issued at $80K with $12K OID and $9.2K interest charge.
Ten monthly payments of $10,120 starting Jan 30, 2024; note due Oct 30, 2024.
Conversion price $1.60 per share, subject to anti-dilution; 4.99% beneficial ownership limitation.
Proceeds for general working capital; $5K reimbursement for buyer's legal/due diligence.
Note includes default rate of 22% per annum and events of default linked to breach of reps/covenants.

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

Clean Energy Technologies, Inc. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC valued at $92,000 Convertible Promissory Note (effective 2023-12-21).

Action: entry
Agreement: equity purchase
Counterparty: 1800 Diagonal Lending LLC
Value: $92,000 Convertible Promissory Note
Effective: 2023-12-21

Exact text from the filing

On December 21, 2023, Clean Energy Technology, Inc., a Nevada corporation (the “Company”) closed the transactions contemplated by the Securities Purchase Agreement with 1800 Diagonal Lending LLC (“Diagonal”) dated December 21, 2023 (the “Securities Purchase Agreement”) pursuant to which the Company issued to Diagonal a $92,000 Convertible Promissory Note

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Clean Energy Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-046270

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