CalEthos exchanges $5.4M debt and warrants for 10.8M shares; related party converts $4.3M

CalEthos, Inc.

Exchanged $5,417,459.50 of principal and accrued interest on promissory notes and related warrants for 10,834,919 common shares.
Post-exchange outstanding common shares total 25,330,540 shares.
Nanosha Investments (controlled by director Sean Fontenot) exchanged $4,287,193 note and a warrant for 8,574,386 shares.
Exchange was exempt from registration under Section 3(a)(9) of the Securities Act.
Debt-to-equity swap removes $5.4M in liabilities from the balance sheet.

item 1.01 item 3.02 item 9.01

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

CalEthos, Inc. entered into Exchange Agreement with 14 holders valued at $5,417,459.50 (effective 2023-12-11).

Action: entry
Agreement: equity purchase
Counterparty: 14 holders
Value: $5,417,459.50
Effective: 2023-12-11

Exact text from the filing

Between December 11, 2023 and February 20, 2024, CalEthos Inc. (the “Company”) entered into a series of exchange subscription agreements (each, an “Exchange Agreement” and collectively, the “Exchange Agreements”) with 14 holders (each, a “Holder”) of the Company’s outstanding promissory notes and, in certain cases, related outstanding stock purchase warrants, pursuant to which the Company and the Holders agreed to exchange their promissory notes, and, if applicable, related stock purchase warrants, for shares of the Company’s common stock, par value $0.001per share (the “Common Stock”).

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

CalEthos, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009681

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