other material
confidence high
sentiment positive
materiality 0.60
Mosaic enters redemption agreement for $840K in Series A Preferred; initial $336K received
Mosaic ImmunoEngineering Inc.
- Holocom to redeem 2.1M Series A Preferred shares for $840K total; initial payment of $336K due July 11, 2022.
- Monthly payments of $14K-$21K over 30 months beginning August 2022; expedited redemption if excess cash.
- Late payments accrue 8% interest, retroactive to 12% if unpaid after 90 days.
- Mosaic retains two board seats at Holocom until full redemption; Holocom and SVI barred from distributions or bonuses until paid.