Kinetic Seas Inc. (KSEZ): debt financing — Kinetic Seas issues $148,500 convertible promissory note to LABRYS FUND II, L.P.

Kinetic Seas Inc.

Principal $148,500; purchase price $135,000 (includes $13,500 original issue discount).
Matures Feb 23, 2027; 8% one-time interest earned at issuance; scheduled amortization begins May 18, 2026.
Holder may convert after 180 days; conversion price = 85% of lowest closing bid price over prior 10 trading days.
Beneficial ownership limitation set at 4.99% (can be increased to 9.99% with 61 days' notice).
Private placement exempt under Section 4(a)(2) and Rule 506; securities are restricted.

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

Kinetic Seas Inc. incurred loan of $148,500 with LABRYS FUND II, L.P. at 8% one-time interest charge maturing February 23, 2027.

Instrument: loan
Principal: $148,500
Counterparty: LABRYS FUND II, L.P.
Rate: 8% one-time interest charge
Maturity: February 23, 2027
Event: incurrence

Exact text from the filing

On February 23, 2026, Kinetic Seas Incorporated (the “Company”) entered into a Securities Purchase Agreement with LABRYS FUND II, L.P. pursuant to which the Company issued an unsecured promissory note (the “Note”) in the principal amount of $148,500 for gross proceeds of $135,000.

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Kinetic Seas Inc. issued convertible note to LABRYS FUND II, L.P. for principal amount of $148,500 for gross proceeds of $135,000.

Security: convertible note
Purchaser: LABRYS FUND II, L.P.
Consideration: principal amount of $148,500 for gross proceeds of $135,000

Exact text from the filing

into a Securities Purchase Agreement with LABRYS FUND II, L.P. pursuant to which the Company issued an unsecured promissory note (the “Note”) in the principal amount of $148,500 for gross proceeds of $135,000. The Note matures on February 23, 2027 and includes an original issue discount. The Note bears an 8% one-time interest charge earned as of issuance

View on SEC.gov

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

Kinetic Seas Inc. entered into Securities Purchase Agreement with LABRYS FUND II, L.P. valued at $148,500 (effective 2026-02-23).

Action: entry
Agreement: equity purchase
Counterparty: LABRYS FUND II, L.P.
Value: $148,500
Effective: 2026-02-23

Exact text from the filing

On February 23, 2026, Kinetic Seas Incorporated (the “Company”) entered into a Securities Purchase Agreement with LABRYS FUND II, L.P. pursuant to which the Company issued an unsecured promissory note (the “Note”) in the principal amount of $148,500 for gross proceeds of $135,000.

View on SEC.gov

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

Kinetic Seas Inc. filing history →

Source: SEC EDGAR

accession 0001683168-26-001361

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