---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-005426"
form_type: "8-K"
ticker: "UAVS"
cik: "0000008504"
company_name: "AgEagle Aerial Systems Inc."
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T06:09:45.701257+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# AgEagle exchanges $4.85M note with Alpha Capital for convertible note at $0.10/share

## Summary
- Exchanged $4.095M note plus accrued interest for Convertible Note of $4,849,491; convertible at $0.10/share.
- Convertible Note accrues 12% interest (18% on default); monthly amortization payments of $484,949 start April 1, 2024.
- Full conversion would yield up to 52.2M shares (>19.99% of outstanding); shareholder approval required.
- Series F Preferred minimum subscription reduced from $2M to $1M per tranche; total capacity remains $25M.
- Company cannot issue stock to officers/directors without Alpha's consent while Convertible Note is outstanding.

## SEC filing metadata
- accession: 0001493152-24-005426
- form_type: 8-K
- ticker: UAVS
- cik: 0000008504
- company_name: AgEagle Aerial Systems Inc.
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8504/000149315224005426/0001493152-24-005426-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8504/000149315224005426/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-005426
- JSON: https://secwatch.observer/filing/0001493152-24-005426.json
- Plain text: https://secwatch.observer/filing/0001493152-24-005426.txt

## Key facts
- Debt Financings
  AgEagle Aerial Systems Inc. incurred convertible notes of $4,849,491 with Alpha Capital Anstalt at 12% per annum maturing January 8, 2024.
  - Instrument: convertible notes
  - Principal: $4,849,491
  - Counterparty: Alpha Capital Anstalt
  - Rate: 12% per annum
  - Maturity: January 8, 2024
  - Event: incurrence
  source text: Agreement (the “ Exchange Agreement ”), pursuant to which the parties agreed to exchange the Original Note for a Convertible Note due January 8, 2024 in the principal amount of $4,849,491 (the “ Convertible Note ”), convertible into Common Stock at the initial conversion price of $0.10 per share of Common Stock, subject to adjustment based on the effectiveness of
  evidence_url: https://www.sec.gov/Archives/edgar/data/8504/000149315224005426/0001493152-24-005426-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.