STRYVE FOODS, INC.: debt financing — Stryve Foods raises $1.6M in convertible bridge notes with insider participation

STRYVE FOODS, INC.

Issued $1.6M aggregate principal of unsecured promissory notes to accredited investors; $1.0M from insiders.
Notes bear 12% annual interest, mature December 31, 2024, and include a 1% original issue discount.
Proceeds to fund inventory growth, working capital, and general operations.
Notes automatically convert into equity securities upon the next financing of at least $3M gross proceeds.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STRYVE FOODS, INC. incurred senior notes of $1.6 million in principal amount with select accredited investors at 12% maturing December 31, 2024.

Instrument: senior notes
Principal: $1.6 million in principal amount
Counterparty: select accredited investors
Rate: 12%
Maturity: December 31, 2024
Event: incurrence

Exact text from the filing

issued an aggregate of $1.6 million in principal amount of unsecured promissory notes (the “Notes”) to select accredited investors

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Source: SEC EDGAR

accession 0001493152-24-014086

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