debt
confidence high
sentiment negative
materiality 0.75
AgEagle amends $4.85M convertible note, adds $586k in accrued interest and damages for missed payments
AgEagle Aerial Systems Inc.
- Principal increased by $586,286.90 to $4,850,828.90, including $159,832.70 accrued interest and $426,454.20 liquidated damages.
- June 3, July 1, and August 1, 2024 amortization payments deferred to maturity; defaults waived.
- Alpha Capital's Additional Investment Right extended to Dec 31, 2025, minimum tranche reduced from $1M to $500k.
- Note carries 12% annual interest; monthly amortization payments were $484,949 starting April 1, 2024.