STRYVE FOODS, INC.: debt financing — Stryve Foods issues $1.1M in convertible notes at 12% to fund working capital

STRYVE FOODS, INC.

Issued $1.1M unsecured convertible notes on Apr 7-9, 2025; $0.6M to a related party.
Notes carry 10% original issue discount and 12% annual interest; monthly interest payments begin May 7, 2025.
Maturity triggered by receipt of $1M+ ERC from IRS, $6M+ equity financing, or 9 months from funding.
Lenders may convert principal and interest on same terms as other investors in a $6M+ equity financing.
Proceeds used for inventory growth, working capital, and general operations.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STRYVE FOODS, INC. incurred convertible notes of $1.1 million with select accredited investors at 12% maturing the earlier of (i) three (3) days after the Company receives $1 million or more from its Employee Retention Tax Credit, (ii) the date the Company sells $6 milli.

Instrument: convertible notes
Principal: $1.1 million
Counterparty: select accredited investors
Rate: 12%
Maturity: the earlier of (i) three (3) days after the Company receives $1 million or more from its Employee Retention Tax Credit, (ii) the date the Company sells $6 milli
Event: incurrence

Exact text from the filing

On April 7, 2025 and April 9, 2025, Stryve Foods, Inc. (the “Company”) issued an aggregate of $1.1 million in principal amount of unsecured convertible promissory notes (the “Notes”) to select accredited investors

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Source: SEC EDGAR

accession 0001641172-25-003810

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