Tribal Rides extends convertible note maturity to Aug 2023; issues 1M shares to AJB Capital

SUPA Consolidated Inc.

Extended maturity of $290K convertible note from Feb 10 to Aug 10, 2023 via second modification.
Issued 1,000,000 shares to AJB Capital as extension fee; must register resale by Oct 31, 2023.
Also issued 1,000,000 vested shares to CFO Don Smith and CTO Steven Ritacco on Dec 31, 2022.
New issuances exceed 5% of prior outstanding shares (36,502,500 as of Nov 10, 2022).
Securities issued without registration under Section 4(a)(2)/Rule 506(b).

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

SUPA Consolidated Inc. amended Second Modification-Extension of Maturity Date with AJB Capital Investments, LLC valued at Extended maturity date of Convertible Promissory Note to August 10, 2023; issued 1,000,000 shares of (effective 2023-01-31).

Action: amendment
Agreement: notes offering
Counterparty: AJB Capital Investments, LLC
Value: Extended maturity date of Convertible Promissory Note to August 10, 2023; issued 1,000,000 shares of
Effective: 2023-01-31

Exact text from the filing

On January 31, 2023, the Company entered into the second Modification-Extension of Maturity Date with the Lender pursuant to which the maturity date of the Note was changed to August 10, 2023. In addition, the Company agreed to issue to the Lender 1,000,000 shares of Common Stock (the “ Extension Shares ”) and to register the resales of the shares (as well as the previously-issued 600,000 shares) no later than October 31, 2023 (with the S-1 registration statement to be filed with the SEC no later than August 10, 2023).

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SUPA Consolidated Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-000586

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