iQSTEL issues option to ADI Funding for up to 10M shares at discount to VWAP

iQSTEL Inc

Issued Common Stock Purchase Option to ADI Funding LLC for $100,000; expires Dec 31, 2024.
Option covers up to 10,000,000 shares; exercise price is 70% or 75% of 10-day VWAP based on price.
ADI must exercise at least 2M shares by later of March 31, 2024 or effective resale registration.
Additional mandatory exercises of 1M shares every 30 days on cash basis, subject to $0.11 floor.
Beneficial ownership limit 4.99% (may increase to 9.99%); anti-dilution rights included.

item 1.01 item 9.01

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

iQSTEL Inc entered into Common Stock Purchase Option with ADI Funding LLC valued at $100,000 (effective 2024-02-12).

Action: entry
Agreement: equity purchase
Counterparty: ADI Funding LLC
Value: $100,000
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, we issued a Common Stock Purchase Option (the “Option”) to ADI Funding LLC (“ADI Funding”) for $100,000 that expires on December 31, 2024, for the right to acquire up to 10,000,000 shares of common stock.

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iQSTEL Inc filing history →

Source: SEC EDGAR

accession 0001663577-24-000044

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