debt
confidence high
sentiment neutral
materiality 0.60
Zivo Bioscience, Inc. (ZIVO): debt financing — Zivo Bioscience raises $250k initial tranche in $2M convertible debt offering
Zivo Bioscience, Inc.
- Issued $250k bridge promissory note with 10% annual interest, compounded annually; due after 2 years or upon $5M+ equity financing.
- Note converts at lower of issuance price or 80% of qualified financing share price; prepayment allowed at 115% of principal.
- Accompanying warrant to purchase 1,793 shares at issuance closing price, 5-year term, immediately exercisable.
- Total offering up to $2M; proceeds for general operations; notes unsecured and junior to secured debt.