Airship AI Holdings, Inc. (AISP): debt financing — Airship AI refinances $2M secured convertible note with Platinum Capital

Airship AI Holdings, Inc.

Issued amended $2M senior secured convertible note; repayment amount 110% ($2.2M) due June 22, 2024.
Conversion price lower of $3.69717 or 65% of 5-day VWAP, floor $2.27518; weighted average anti-dilution.
Also issued amended warrant to purchase 189,334 shares at $3.69717, expiring June 22, 2028.
Note secured by blanket lien on all assets; guaranteed and subordinated to prior debt.
Restated original June 2023 note with same $2M principal; terms largely similar but amended conversion price floor.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Airship AI Holdings, Inc. amended convertible notes of $2,000,000 with Platinum Capital Partners Inc. at 6% per annum maturing June 22, 2024.

Instrument: convertible notes
Principal: $2,000,000
Counterparty: Platinum Capital Partners Inc.
Rate: 6% per annum
Maturity: June 22, 2024
Event: amendment

Exact text from the filing

On February 2, 2024, Airship AI Holdings, Inc. (the “Company”) issued and sold to Platinum Capital Partners Inc. (“Platinum”) in a private placement an Amended and Restated Senior Secured Convertible Promissory Note in the principal amount of $2,000,000 (the “Note”). The Note amends and restates in its entirety the Senior Secured Convertible Promissory Note issued to Platinum in the principal amount of $2,000,000 on June 22, 2023.

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

Airship AI Holdings, Inc. amended Amended and Restated Senior Secured Convertible Promissory Note with Platinum Capital Partners Inc. valued at principal amount of $2,000,000 (effective 2024-02-02).

Action: amendment
Agreement: notes offering
Counterparty: Platinum Capital Partners Inc.
Value: principal amount of $2,000,000
Effective: 2024-02-02

Exact text from the filing

On February 2, 2024, Airship AI Holdings, Inc. (the “Company”) issued and sold to Platinum Capital Partners Inc. (“Platinum”) in a private placement an Amended and Restated Senior Secured Convertible Promissory Note in the principal amount of $2,000,000 (the “Note”).

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

Airship AI Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-001402

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