Clean Energy Technologies issues $92K convertible promissory note to Coventry Enterprises

Clean Energy Technologies, Inc.

$92K principal note sold for $80K ($12K OID) plus one-time $9.2K interest; ten monthly payments of $10,120.
Conversion triggered only after event of default; conversion price lower of $1.60/sh or any stock issuance within 30 days.
Beneficial ownership cap of 4.99% applies to buyer and affiliates.
Securities issued in unregistered offering exempt under Section 4(a)(2) and Rule 506(b).

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 Agreement with Coventry Enterprises LLC valued at principal amount of $92,000 (effective 2024-02-02).

Action: entry
Agreement: notes offering
Counterparty: Coventry Enterprises LLC
Value: principal amount of $92,000
Effective: 2024-02-02

Exact text from the filing

On February 2, 2024, Clean Energy Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Agreement”) with Coventry Enterprises LLC, a Delaware limited liability company (the “Buyer”), pursuant to which the Company agreed to issue and sell to the Buyer a convertible promissory note of the Company in the principal amount of $92,000

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Clean Energy Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-005278

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