CIMG Inc. (CIMG): debt financing — NuZee raises $320K via convertible notes/warrants; board member resigns, Ye appointed

CIMG Inc.

Aggregate principal of $320,000 convertible notes at 7% annual interest, one-year maturity.
Warrants to purchase up to 221,147 shares at $1.322 per share, exercisable for two years.
Conversion price of $1.447 per share, calculated per Nasdaq Listing Rule 5635(d) minimum price.
Nobuki Kurita resigned from board; Changzheng Ye appointed as director effective May 2, 2024.
Notes and warrants issued in unregistered private placement under Section 4(a)(2) and Regulation S.

item 1.01 item 2.03 item 3.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Nobuki Kurita

director

CIMG · CIMG Inc.

Effective: 2024-05-02
Successor: Changzheng Ye
Filed: May 2, 2024, 7:59 PM ET

Nobuki Kurita resigned from the board of directors of the Company (the “Board”) and any committee of the Board of which he was a member .

Appointed

Changzheng Ye

director

CIMG · CIMG Inc.

Effective: 2024-05-02
Filed: May 2, 2024, 7:59 PM ET

Changzheng Ye was appointed to the Board as a director to fill the vacancy created by Mr. Kurita’s resignation.

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

CIMG Inc. incurred convertible notes of $320,000 with certain investors at 7% maturing one-year following the issuance date.

Instrument: convertible notes
Principal: $320,000
Counterparty: certain investors
Rate: 7%
Maturity: one-year following the issuance date
Event: incurrence

Exact text from the filing

the “Purchase Agreement”) with certain investors (the “Investors”), providing for the private placement of convertible

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Executive change SEC 8-K Item 5.02 confidence 0.95

Nobuki Kurita resigned as director at CIMG Inc..

Action: resigned
Role: director

Exact text from the filing

Nobuki Kurita resigned from the board of directors of the Company (the “Board”) and any committee of the Board of which he was a member .

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Changzheng Ye was appointed as director at CIMG Inc..

Action: appointed
Role: director

Exact text from the filing

Changzheng Ye was appointed to the Board as a director to fill the vacancy created by Mr. Kurita’s resignation.

View on SEC.gov

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

CIMG Inc. entered into Purchase Agreement with certain investors valued at $320,000 (effective 2024-04-27).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: $320,000
Effective: 2024-04-27

Exact text from the filing

On April 27, 2024, NuZee, Inc., a Nevada corporation (the “Company”), entered into a convertible note and warrant purchase agreement (the “Purchase Agreement”) with certain investors (the “Investors”), providing for the private placement of convertible promissory notes in the aggregate principal amount of $320,000 (the “Notes”) and warrants (the “Warrants”) to purchase up to an aggregate of 221,147 shares of the Company’s common stock

View on SEC.gov

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

CIMG Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-017565

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