debt
confidence high
sentiment neutral
materiality 0.50
HyOrc issues $70.2K convertible notes and $7.5M equity purchase agreement with Lambda
HyOrc Corp
- Issued convertible notes to Jefferson Street Capital and Lambda Ventures, each $35,100 principal, for $32,500 each (total $70,200 principal, $65,000 cash).
- Notes carry 12% one-time interest, mature in 12 months, convertible at 77% of lowest traded price over 15 days.
- Issued 250,000 commitment shares (125k each) to note holders; cancellable if notes repaid within 6 months.
- Entered Equity Purchase Agreement with Lambda for up to $7.5M of common stock; puts min $2,500, max $500k or 200% ADTV, priced at 80% of market.
- Issued 750,000 initial commitment shares to Lambda under the equity purchase agreement.