debt
confidence high
sentiment negative
materiality 0.60
Odyssey Health closes $220K convertible note and warrant financing with Mast Hill Fund
Odyssey Health, Inc.
- Principal $220,000, one-year, 10% note convertible at 85% of 10-day VWAP; default rate 16%.
- Warrant for 1M shares at $0.10, immediately exercisable, cashless exercise if market price exceeds $0.10.
- Net proceeds ~$173,000 after $22,000 OID and $7,500 legal fee deduction.
- Securities issued under Rule 506(b); no registration rights; acknowledges dilution to existing holders.
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