debt
confidence high
sentiment neutral
materiality 0.40
Tecogen director converts $514K promissory note into 240,256 common shares at $2.14/share
TECOGEN INC.
- Earl R. Lewis III converted outstanding debt of $514,148.22 (principal + interest) to 240,256 shares of common stock.
- Conversion price of $2.14 per share based on 30-trading-day average closing price.
- Note originally issued Sept. 18, 2024 with $500,000 principal; conversion extinguishes the liability.
- Transaction eliminates a $514K debt and increases diluted share count by 240,256.