debt
confidence high
sentiment neutral
materiality 0.35
Our Bond issues $526k promissory note with 10% interest to Ascent Partners
Our Bond, Inc.
- Issued $526,315.79 promissory note to Ascent Partners Fund at $500,000 purchase price (5% OID).
- Note bears 10% annual interest, matures June 30, 2026; default rate rises to 24%.
- Proceeds from future equity issuances must be used to prepay note (mandatory prepayment clause).
- Late fee of 10% on overdue payments; events of default include failure to pay, cross-default over $150k, change of control.