Yale Transaction Finders, Inc. (YTFD): debt financing — Yale Transaction Finders issues $23,500 convertible notes to affiliates at 5% interest

Yale Transaction Finders, Inc.

Issued $23,500 convertible promissory notes to Ironbound Partners Fund (CEO affiliate), Moyo Partners (President affiliate), and Dakota Group.
Notes mature Dec 31, 2024, bear 5% annual interest payable at maturity.
Principal and accrued interest convertible into common stock after Qualified Financing or Fundamental Transaction.
Proceeds used for working capital needs.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Yale Transaction Finders, Inc. incurred convertible notes of $23,500 with Ironbound Partners Fund, LLC; Moyo Partners, LLC; Dakota Group, LLC at 5.0% per annum maturing December 31, 2024.

Instrument: convertible notes
Principal: $23,500
Counterparty: Ironbound Partners Fund, LLC; Moyo Partners, LLC; Dakota Group, LLC
Rate: 5.0% per annum
Maturity: December 31, 2024
Event: incurrence

Exact text from the filing

On April 25, 2024, Yale Transaction Finders, Inc., a Delaware corporation (the “Company”), issued convertible promissory notes (the “April 2024 Notes”) in the principal amount of $23,500 to (i) Ironbound Partners Fund, LLC, an affiliate of the Company’s Chief Executive Officer, (ii) Moyo Partners, LLC, an affiliate of the Company’s President and Treasurer, and (iii) Dakota Group, LLC.

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Yale Transaction Finders, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015961

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