Alt5 Sigma raises $1.6M via non-convertible debentures with escalating interest up to 4%/month and warrants

AI Financial Corp

Sold three units: one $1.784M debenture + 400,000-share warrant; two $404,454.39 debentures each + 90,909-share warrants.
Debentures bear interest at 1%/month (Aug–Oct 2024), 3%/month (Nov 2024–Jan 2025), then 4%/month until repayment.
Principal includes escalating OID: base $1.271M (big) and $288,864 (small), increasing if not repaid by Oct 31, 2024 or Jan 29, 2025.
Warrants exercisable at $1.71/share; initial tranches must be exercised within 15 days, contingent tranches vest on missed repayment dates.
Maturity April 28, 2025; 50% of any future financing proceeds must be used to prepay debentures on a pro-rata basis.

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