debt
confidence high
sentiment neutral
materiality 0.60
Nordicus issues $1.2M convertible notes for $1.0M cash; extends CEO/CFO pacts, grants 3M options
Nordicus Partners Corp
- Sold $300,000 principal convertible notes to Keystone, Seven Knots, 5T Capital and Creo for $250,000 cash each ($1.2M total / $1.0M cash), 5.0% interest, maturing Nov. 3, 2027.
- Investors got 125,000 commitment shares each (500,000 total); conversion at 90% of 10-day VWAP only after Aug. 3, 2027 and during an event of default.
- Company must file resale registration statement by Dec. 1, 2026; prepayment allowed at 120% of outstanding principal.
- Board extended CEO Henrik Rouf and CFO Bennett Yankowitz employment agreements through Dec. 31, 2027 on same terms.
- Granted fully vested 10-year options at $3.25/share: 2,000,000 to Rouf and 1,000,000 to Yankowitz.