USBC, Inc. (USBC): debt financing — Know Labs corrects warrant count to 6M shares in $14.4M convertible note facility with Lind

USBC, Inc.

Initial $4.8M senior convertible note (0% interest) for $4M purchase price; conversion at $1.00/share.
Warrants to purchase up to 6M shares at $0.80/share; cashless exercise allowed if registration ineffective.
Monthly payments start 120 days after issuance: greater of 5% principal or $240k; paid in cash, stock, or both.
Placement agent Benchmark receives $200k cash fee and 102,302 unregistered shares.
Notes secured by first-priority lien on all assets; subsidiary Particle guarantees obligations.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

USBC, Inc. incurred convertible notes of $4,800,000 with Lind Global Fund II, LP at Notes do not carry any interest.

Instrument: convertible notes
Principal: $4,800,000
Counterparty: Lind Global Fund II, LP
Rate: Notes do not carry any interest
Event: incurrence

Exact text from the filing

issued to Lind an initial Note with an outstanding principal amount of Four Million Eight Hundred Thousand Dollars ($4,800,000) in exchange for a purchase price of Four Million Dollars ($4,000,000)

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

USBC, Inc. entered into Securities Purchase Agreement with Lind Global Fund II, LP valued at $14,400,000 (effective 2024-02-27).

Action: entry
Agreement: equity purchase
Counterparty: Lind Global Fund II, LP
Value: $14,400,000
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Know Labs, Inc. (the “Company”) (a) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Lind Global Fund II, LP (“Lind”), pursuant to which the Company may issue Lind one or more senior convertible notes (the “Notes”) in the aggregate principal amount of up to Fourteen Million Four Hundred Thousand Dollars ($14,400,000)

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

USBC, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-002730

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