JanOne amends two notes to add convertibility at $0.58, issues two $300K convertible notes

AI Financial Corp

Amended notes with Isaac Capital Group and Live Ventures on Feb 7, 2024, adding conversion rights at $0.58/share.
Two new $300K promissory notes at 10% interest: $100K due March 7, 2024, balance due Dec 31, 2024.
New notes convertible at $0.58/share after six-month anniversary, subject to standard adjustments.
Conversion price set via 5-day average closing price through Feb 6, 2024, complying with Nasdaq Rule 5635(d)(ii).
Isaac Capital Group note's maturity extended to Aug 30, 2028; interest unchanged at 8.75%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AI Financial Corp amended Fourth Amendment to Secured Revolving Line of Credit with Isaac Capital Group LLC (effective 2024-02-07).

Action: amendment
Agreement: credit facility
Counterparty: Isaac Capital Group LLC
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, JanOne Inc. (the “Company”) amended two of its outstanding promissory obligations to add convertibility provisions to each.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AI Financial Corp entered into Promissory Note with Live Ventures Incorporated valued at $300,000 (effective 2024-02-07).

Action: entry
Agreement: credit facility
Counterparty: Live Ventures Incorporated
Value: $300,000
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, the Company entered into a promissory note with each of the holders of the amended promissory notes. The initial principal amount of each note is $300,000, with an interest rate of 10% per annum.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AI Financial Corp amended First Amendment to Promissory Note with Live Ventures Incorporated (effective 2024-02-07).

Action: amendment
Agreement: credit facility
Counterparty: Live Ventures Incorporated
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, JanOne Inc. (the “Company”) amended two of its outstanding promissory obligations to add convertibility provisions to each.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AI Financial Corp entered into Promissory Note with Isaac Capital Group LLC valued at $300,000 (effective 2024-02-07).

Action: entry
Agreement: credit facility
Counterparty: Isaac Capital Group LLC
Value: $300,000
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, the Company entered into a promissory note with each of the holders of the amended promissory notes. The initial principal amount of each note is $300,000, with an interest rate of 10% per annum.

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

AI Financial Corp filing history →

Source: SEC EDGAR

accession 0001628280-24-003865

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