debt
confidence high
sentiment neutral
materiality 0.55
Fourth Wave Energy loans $770,000 to EdgeMode at 16% interest; merger closing expected early-mid Jan 2022
Edgemode, Inc.
- Fourth Wave Energy lent EdgeMode $770,000 under a promissory note dated Dec 10, 2021.
- Loan bears 16% annual interest, matures June 10, 2022, and is secured by all of EdgeMode's assets.
- Fourth Wave and EdgeMode have a Dec 2, 2021 merger agreement; closing targeted early to mid-January 2022.
- The loan may serve as bridge financing pending completion of the merger.