Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
My City Builders, Inc. incurred loan of $350,000.00 with RAC Gadsden, LLC at 9.5% per annum maturing 3-year term.
- Instrument
- loan
- Principal
- $350,000.00
- Counterparty
- RAC Gadsden, LLC
- Rate
- 9.5% per annum
- Maturity
- 3-year term
- Event
- incurrence
Exact text from the filing
the Company acquired 4 acres of land in Glencoe, Alabama (the “ Property ”) in exchange for a secured promissory note with the LLC in the amount of $350,000.00 (the “ Note ”). The Note has a 3-year term and carries an interest rate of 9.5% per annum.
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Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
My City Builders, Inc.: Company is no longer a shell company as defined in Rule 12b-2 under the Exchange Act, effective upon entering the Asset Purchase Agreement for property acquisition (effective 2025-10-31).
- Change
- shell status
- Effective
- 2025-10-31
Exact text from the filing
As a result of the Agreement, the Company is no longer a “shell company” as the term is defined in Rule 12b-2 under the Exchange Act.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.92
My City Builders, Inc. completed an acquisition involving RAC Gadsden, LLC for secured promissory note in the amount of $350,000.00 (closed 2025-10-31).
- Action
- acquisition
- Counterparty
- RAC Gadsden, LLC
- Consideration
- secured promissory note in the amount of $350,000.00
- Closing
- 2025-10-31
Exact text from the filing
As a result of the Agreement, the Company acquired 4 acres of land in Glencoe, Alabama (the “ Property ”) in exchange for a secured promissory note with the LLC in the amount of $350,000.00 (the “ Note ”). The Note has a 3-year term and carries an interest rate of 9.5% per annum. The principal and interest are due at the conclusion of the 3-year term on October 30,
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