Ideanomics issues $1.9M secured convertible debenture at 8% interest, due Sept 2024

IDEANOMICS, INC.

Issued $1.9M principal debenture (purchase price $1.5M) to YA II PN, Ltd.; matures Sept 30, 2024.
Interest 8% (18% on default); conversion price lower of $1.12 or 90% of 10-day VWAP (floor $0.204).
Proceeds to support operational needs and initial costs for Wireless Advanced Vehicle Electrification LLC and a prior disclosed purchase order.
Debenture secured and guaranteed; includes standard conversion limitations (4.99% beneficial ownership cap).
Event of default triggers acceleration and right to convert at variable price.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

IDEANOMICS, INC. entered into Secured Convertible Debenture Purchase Agreement with YA II PN, Ltd. valued at Purchase price $1,500,000; face amount $1,900,000; interest 8%; conversion price lower of $1.12 or 9 (effective 2024-02-29).

Action: entry
Agreement: credit facility
Counterparty: YA II PN, Ltd.
Value: Purchase price $1,500,000; face amount $1,900,000; interest 8%; conversion price lower of $1.12 or 9
Effective: 2024-02-29

Exact text from the filing

On February 29, 2024, the Company consummated the sale to YA II PN, Ltd. (“YA II”, the "Buyer") of a new Secured Convertible Debenture in a private placement pursuant to that certain Secured Debenture Purchase Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “SDPA”), dated as of October 25, 2022 (the “First Closing Date”), as amended by the First Amendment to Secured Debenture Purchase Agreement of March 30, 2023, as further amended by the Second Amendment to Secured Debenture Purchase Agreement of April 17, 2023, as further amended by the Third Amendment to Secured Debenture Purchase Agreement of May 1, 2023, and as further amended by the previously reported Fourth Amendment to Secured Debenture Purchase Agreement of July 13, 2023.

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Source: SEC EDGAR

accession 0001628280-24-008040

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