INVO Fertility, Inc. (IVF): debt financing — INVO Bioscience raises $250K via convertible note and warrants; 12% interest, 1-yr maturity

INVO Fertility, Inc.

Issued $275,000 convertible note to FirstFire Global Opportunities Fund for $250,000 purchase price after fees.
Note convertible at $1.00/share, 12% interest, 12-month maturity; prepayable at 110%.
Warrants: 229,167 shares at $1.20 (immediate, 5-yr); 500,000 shares at $0.01 (on default).
Also issued 50,000 commitment shares; proceeds for working capital and general corporate purposes.
Stockholder approval needed within 9 months if issuances exceed 19.99% of outstanding (523,344 shares).

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

INVO Fertility, Inc. incurred convertible notes of $275,000.00 with FirstFire Global Opportunities Fund, LLC at twelve percent (12%) per annum maturing twelve (12) months from the issue date.

Instrument: convertible notes
Principal: $275,000.00
Counterparty: FirstFire Global Opportunities Fund, LLC
Rate: twelve percent (12%) per annum
Maturity: twelve (12) months from the issue date
Event: incurrence

Exact text from the filing

On April 5, 2024, INVO Bioscience, Inc., a Nevada corporation (the “ Company ”) entered into a purchase agreement (the “ Purchase Agreement ”) with FirstFire Global Opportunities Fund, LLC (the “ Buyer ”), pursuant to which the Buyer agreed to purchase, and the Company agreed to issue and sell, (i) a promissory note with an aggregate principal amount of $275,000.00, which is convertible into shares of the Company’s common stock

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INVO Fertility, Inc. entered into Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at $275,000 (effective 2024-04-05).

Action: entry
Agreement: equity purchase
Counterparty: FirstFire Global Opportunities Fund, LLC
Value: $275,000
Effective: 2024-04-05

Exact text from the filing

On April 5, 2024, INVO Bioscience, Inc., a Nevada corporation (the “ Company ”) entered into a purchase agreement (the “ Purchase Agreement ”) with FirstFire Global Opportunities Fund, LLC (the “ Buyer ”), pursuant to which the Buyer agreed to purchase, and the Company agreed to issue and sell, (i) a promissory note with an aggregate principal amount of $275,000.00

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-014353

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