debt
confidence high
sentiment neutral
materiality 0.68
American Rebel amends Streeterville note, repays $1.86M BofA loan, issues convertible note
AMERICAN REBEL HOLDINGS INC
- Global amendment released $2M from DACA to repay Bank of America loan; $1M fee added to note, balance now $6.58M.
- Exchanged $1.3M portion of note for 7-year convertible note (12% interest, $0.80 conversion price) and warrant for 225K Series D preferred shares at $7.50.
- Bank of America loan fully paid ($1.86M); lawsuit to be dismissed; no remaining obligations.
- Subsidiaries Champion Safe, Superior Safe, Safe Guard, and Champion Safe de Mexico guarantee exchange note.
- Warrant exercisable for 2 years; conversion of note cashless at $0.80 per common share.
item 1.01item 2.03item 3.03item 9.01