other_material
confidence high
sentiment neutral
materiality 0.75
HUSA secures $100M ELOC and $5.4M convertible note to fund Texas Gulf Coast property acquisition
ABUNDIA GLOBAL IMPACT GROUP, INC.
- Secured $100M equity line of credit (ELOC) with institutional investor; shares sold at 96% of 3-day VWAP, $2M cap per drawdown.
- Issued $5.434M senior secured convertible note (8% OID, 7% interest, due Jul'26); conversion at $10.92/share, 4.99% ownership cap.
- Net proceeds of ~$5M from note used to acquire 25-acre property in Cedar Port Industrial Park, Baytown, TX for ~$8.5M cash.
- Company paid 300,000 commitment shares to ELOC investor; 156,000 at close, 144,000 upon registration effectiveness.