debt
confidence high
sentiment neutral
materiality 0.55
Kisses from Italy raises $297K via convertible notes with Talos and Blue Lake; issues warrants and shares
Kisses From Italy Inc.
- Issued two $165,000 promissory notes to Talos Victory Fund and Blue Lake Partners; net proceeds $148,500 each after OID.
- Notes bear 12% interest, mature April 2023, convertible at $0.05 per share; warrants exercisable at $0.10 for 1.65M shares each.
- Issued 500,000 commitment shares to each investor; registration rights granted with 90-day filing deadline.
- Investors granted right of first refusal on future issuances and most favored nation clause until notes paid in full.
- Total potential dilution: up to 3.3M warrant shares plus 2M commitment shares plus conversion shares.