Arrive AI closes $3.0M pre-paid convertible note with Streeterville Capital

Arrive AI Inc.

• Streeterville paid $3.0M for a $3.24M promissory note (8% interest, $240K OID), convertible into common shares at a discount.
• Conversion price is lesser of initial Nasdaq reference price or 90% of lowest VWAP over 10 trading days, subject to $0.25 floor.
• Company may prepay at 115% of principal with 5 days' notice; monthly $412.5K cash payments triggered on price or share issuance events.
• Maxim Group acted as placement agent, receiving 6% cash fee on gross proceeds and future pre-paid purchases.
• Shares issuable are unregistered, sold under Section 4(a)(2) and Regulation D.