debt
confidence high
sentiment neutral
materiality 0.70
Clean Energy Technologies issues $620K convertible note, warrants to Mast Hill Fund
Clean Energy Technologies, Inc.
- Sold $620K junior secured convertible note and warrants for 310K shares to Mast Hill Fund for $558K; net $500K after fees.
- Note matures in 12 months, 10% guaranteed interest, convertible at lower of $2.50/share or 90% of 5-day VWAP, with 4.99% cap.
- Warrants exercisable at $2.50 for 5 years on cashless basis; shares subject to 9,156,726 Exchange Cap until shareholder approval.
- Proceeds used for senior lender payment ($50K), working capital, and business development; excludes insider debt or loans.