TOMI issues $2.6M in 12% convertible notes; up to $5M total available

TOMI Environmental Solutions, Inc.

Issued $2.6M of 12% convertible notes due in 5 years; aggregate principal capacity of $5M.
Notes convertible at $1.25/share (cap $1.55); company can force conversion if stock ≥$1.55 for 20 of 30 days.
Net proceeds used for working capital and general corporate purposes.
Registration Rights Agreement requires filing resale registration statement within 60 days of initial closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TOMI Environmental Solutions, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at $5,000,000 (effective 2023-11-07).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: $5,000,000
Effective: 2023-11-07

Exact text from the filing

TOMI Environmental Solutions, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “SPA”) with certain accredited investors (collectively, the “Investors”) pursuant to which the Company agreed to sell and issue to the Investors in a private placement transaction (the “Private Placement”) in one or more closings up to an aggregate principal amount of $5,000,000 (the “Notes”).

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TOMI Environmental Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-013878

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