Aclarion waives monthly interest on $1.44M notes, defers all interest to maturity

Aclarion, Inc.

Waived monthly interest on $1.23M (Cavalry Fund) and $208K (WVP) unsecured non-convertible notes.
Interest now payable in arrears only on Maturity Date; waiver retroactive to May 16, 2023.
Company retains option to draw $750K second tranche through Nov 16, 2023.
Company to reimburse $5,000 legal fee to lead holder's counsel.
No change to principal amount; notes continue to bear interest at original rate.

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

Aclarion, Inc. amended Securities Purchase Agreement and Notes with Note holders valued at Waiver of monthly interest payments on first tranche notes and second tranche notes (if issued in th (effective 2023-08-14).

Action: amendment
Agreement: notes offering
Counterparty: Note holders
Value: Waiver of monthly interest payments on first tranche notes and second tranche notes (if issued in th
Effective: 2023-08-14

Exact text from the filing

On August 14, 2023, the Company and the note holders agreed to waive monthly interest payments on the first tranche notes and the second tranche notes (if issued in the future).

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Aclarion, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-005758

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