One World Products, Inc. (OWPC): debt financing — One World Products sells $1.6M convertible notes with warrants; 12% interest, Jan 2025 maturity

One World Products, Inc.

SDT Equities LLC provided $1.3M principal note at $1.196M purchase price; 12% interest, convertible at variable rate.
AJB Capital Investments LLC provided $300K principal note at $276K purchase price; 12% interest, convertible at variable rate.
SDT received pre-funded warrant for 8,666,667 shares with make-whole provision guaranteeing at least $520K net proceeds.
AJB received 2,000,000 commitment fee shares; make-whole provision if sale proceeds fall short of $120K fee.
Notes secured by all company assets under security agreements; maturity January 19, 2025.

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

One World Products, Inc. incurred convertible notes of $1,300,000 with SDT Equities LLC at 12% per annum maturing January 19, 2025.

Instrument: convertible notes
Principal: $1,300,000
Counterparty: SDT Equities LLC
Rate: 12% per annum
Maturity: January 19, 2025
Event: incurrence

Exact text from the filing

(the “Company”) completed the sale of a 12% convertible promissory note to each of (a) SDT Equities LLC, a Delaware limited liability company (“SDT”) in the principal amount of $1,300,000 and for a purchase price of $1,196,000, and (b) AJB Capital Investments LLC, a Delaware limited liability company (“AJB”, and together with SDT, the “Investors”) in the principal

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

One World Products, Inc. incurred convertible notes of $300,000 with AJB Capital Investments LLC at 12% per annum maturing January 19, 2025.

Instrument: convertible notes
Principal: $300,000
Counterparty: AJB Capital Investments LLC
Rate: 12% per annum
Maturity: January 19, 2025
Event: incurrence

Exact text from the filing

of $1,196,000, and (b) AJB Capital Investments LLC, a Delaware limited liability company (“AJB”, and together with SDT, the “Investors”) in the principal amount of $300,000 for a purchase price of $276,000 (collectively, the “Notes”) pursuant to Securities Purchase Agreements between the Company and the Investors, respectively (the “Purchase

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

One World Products, Inc. entered into Securities Purchase Agreements with SDT Equities LLC and AJB Capital Investments LLC valued at principal amount of $1,300,000 and $300,000 (effective 2024-04-19).

Action: entry
Agreement: equity purchase
Counterparty: SDT Equities LLC and AJB Capital Investments LLC
Value: principal amount of $1,300,000 and $300,000
Effective: 2024-04-19

Exact text from the filing

On April 19, 2024, One World Products, Inc. (the “Company”) completed the sale of a 12% convertible promissory note to each of (a) SDT Equities LLC, a Delaware limited liability company (“SDT”) in the principal amount of $1,300,000 and for a purchase price of $1,196,000, and (b) AJB Capital Investments LLC, a Delaware limited liability company (“AJB”, and together with SDT, the “Investors”) in the principal amount of $300,000 for a purchase price of $276,000 (collectively, the “Notes”) pursuant to Securities Purchase Agreements between the Company and the Investors, respectively (the “Purchase Agreements”).

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One World Products, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015982

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