other material
confidence high
sentiment negative
materiality 0.70
Mangoceuticals sells $100K Series B preferred, borrows $500K at 18% from Indigo Capital
MANGOCEUTICALS, INC.
- Sold 100 shares of Series B Convertible Preferred at $100K; stated value $1,100/share, convertible at $1.50 into up to 73,333 common shares.
- Purchaser granted right to participate in any subsequent financing for 18 months from closing.
- Borrowed $500K from Indigo Capital LP via Promissory Note at 18% annual interest compounded monthly, maturing April 15, 2026.
- Prepayment premium equals interest to stated maturity; mandatory prepayment on qualified financing; default triggers acceleration and additional interest.