Edgemode, Inc. (EDGM): debt financing — Edgemode issues $117,502 in convertible promissory notes with 10% interest and steep discount conversion

Edgemode, Inc.

Sold $60,000 unsecured note on Apr 25 and $57,502 convertible note on Apr 26, both with 10% interest.
Notes mature May 25 and May 26, 2023; if unpaid, convertible at lower of $0.20 or 50% of 5-day VWAP (floor $0.01).
Company reserved 11,750,200 common shares for full conversion of both notes.
Proceeds to be used for repurchase of Series B preferred stock and general working capital.
Notes include 'most favored nation' clause allowing investors to claim future better terms.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Edgemode, Inc. incurred convertible notes of $57,502 with another Investor at ten percent (10%) maturing May 26, 2023.

Instrument: convertible notes
Principal: $57,502
Counterparty: another Investor
Rate: ten percent (10%)
Maturity: May 26, 2023
Event: incurrence

Exact text from the filing

on April 26, 2023, the Company entered into a Promissory Note Purchase Agreement with another Investor, pursuant to which the Company sold the Investor an unsecured convertible promissory note in the principal amount of $57,502 Promissory Note.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Edgemode, Inc. incurred loan of $60,000 with an accredited investor at ten percent (10%) maturing May 25, 2023.

Instrument: loan
Principal: $60,000
Counterparty: an accredited investor
Rate: ten percent (10%)
Maturity: May 25, 2023
Event: incurrence

Exact text from the filing

On April 25, 2023, Edgemode, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Promissory Note Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company sold the Investor an unsecured promissory note in the principal amount of $60,000 (the “Promissory Note”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edgemode, Inc. entered into Promissory Note Purchase Agreement with another accredited investor valued at $57,502 (effective 2023-04-26).

Action: entry
Agreement: notes offering
Counterparty: another accredited investor
Value: $57,502
Effective: 2023-04-26

Exact text from the filing

on April 26, 2023, the Company entered into a Promissory Note Purchase Agreement with another Investor, pursuant to which the Company sold the Investor an unsecured convertible promissory note in the principal amount of $57,502

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edgemode, Inc. entered into Promissory Note Purchase Agreement with accredited investor valued at $60,000 (effective 2023-04-25).

Action: entry
Agreement: notes offering
Counterparty: accredited investor
Value: $60,000
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023, Edgemode, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Promissory Note Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company sold the Investor an unsecured promissory note in the principal amount of $60,000

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

Edgemode, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-002754

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.