debt
confidence high
sentiment neutral
materiality 0.55
Tego Cyber enters $75K convertible debt financing with Bigger Capital; 10% interest, convertible after 180 days
Tego Cyber, Inc.
- Received $67,500 net from $75,000 principal note with $7,500 original issue discount.
- Note matures April 13, 2023, interest rate 10% (18% if extended up to 6 months).
- Convertible into common stock after 180 days at lower of lowest trading price in prior 20 trading days.
- Reserved 1,000,000 shares for potential conversion; warrant also issued per exhibit.
- Issued under Section 4(a)(2) and Rule 506(b) as exempt transaction without underwriter.