8-K
filed June 5, 2026, 6:00 AM ET
ticker MGNC
CIK 0001949864
debt
confidence high
sentiment negative
materiality 0.65
Mag Magna Corp (MGNC): debt financing — Mag Magna issues $463K in convertible notes to three investors; forms board committees
Mag Magna Corp
- Issued $170K 6% convertible note to CFI Capital on Apr 1; net proceeds $153K after OID.
- Issued $170K 6% convertible note to Silvercrest Hybrid on Apr 29; net $153K after OID.
- Issued $123.3K 12% convertible note to GW Capital on May 6; net $111K after OID.
- Conversion at 60% of lowest traded price over 20 days; default price drops to 45%.
- Proceeds used for general working capital; also formed Executive and Audit Committees.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Mag Magna Corp incurred convertible notes of $170,000.00 with CFI Capital, LLC at 6% per annum maturing 12 months from issue date.
- Instrument
- convertible notes
- Principal
- $170,000.00
- Counterparty
- CFI Capital, LLC
- Rate
- 6% per annum
- Maturity
- 12 months from issue date
- Event
- incurrence
Exact text from the filing
Effective April 1, 2026, Mag Magna Corp., a Wyoming corporation (the “Company” ), entered into a Securities Purchase Agreement (the “CFI Capital SPA” ) with CFI Capital, LLC ( “CFI Capital” ), pursuant to which the Company issued to CFI Capital a 6% convertible redeemable note in the principal amount of $170,000.00 (the “CFI Capital Note” ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Mag Magna Corp incurred convertible notes of $170,000.00 with Silvercrest Hybrid Capital LLC at 12% per annum maturing 12 months from issue date.
- Instrument
- convertible notes
- Principal
- $170,000.00
- Counterparty
- Silvercrest Hybrid Capital LLC
- Rate
- 12% per annum
- Maturity
- 12 months from issue date
- Event
- incurrence
Exact text from the filing
Effective April 29, 2026, the Company entered into a Securities Purchase Agreement (the “Silvercrest SPA” ) with Silvercrest Hybrid Capital LLC ( “Silvercrest” ), pursuant to which the Company issued to Silvercrest a 6% convertible redeemable note in the principal amount of $170,000.00 (the “Silvercrest Note” ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Mag Magna Corp issued convertible note to Silvercrest Hybrid Capital LLC for $170,000.00 principal amount for cash proceeds of $153,000.00.
- Security
- convertible note
- Purchaser
- Silvercrest Hybrid Capital LLC
- Consideration
- $170,000.00 principal amount for cash proceeds of $153,000.00
Exact text from the filing
Effective April 29, 2026, the Company entered into a Securities Purchase Agreement (the "Silvercrest SPA" ) with Silvercrest Hybrid Capital LLC ( "Silvercrest" ), pursuant to which the Company issued to Silvercrest a 6% convertible redeemable note in the principal amount of $170,000.00 (the "Silvercrest Note" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Mag Magna Corp issued convertible note to CFI Capital, LLC for $170,000.00 principal amount for cash proceeds of $153,000.00.
- Security
- convertible note
- Purchaser
- CFI Capital, LLC
- Consideration
- $170,000.00 principal amount for cash proceeds of $153,000.00
Exact text from the filing
Effective April 1, 2026, Mag Magna Corp., a Wyoming corporation (the "Company" ), entered into a Securities Purchase Agreement (the "CFI Capital SPA" ) with CFI Capital, LLC ( "CFI Capital" ), pursuant to which the Company issued to CFI Capital a 6% convertible redeemable note in the principal amount of $170,000.00 (the "CFI Capital Note" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mag Magna Corp entered into Securities Purchase Agreement with Silvercrest Hybrid Capital with Silvercrest Hybrid Capital LLC valued at $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000 (effective 2026-04-29).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Silvercrest Hybrid Capital LLC
- Value
- $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000
- Effective
- 2026-04-29
Exact text from the filing
Effective April 29, 2026, the Company entered into a Securities Purchase Agreement (the "Silvercrest SPA" ) with Silvercrest Hybrid Capital LLC ( "Silvercrest" ), pursuant to which the Company issued to Silvercrest a 6% convertible redeemable note in the principal amount of $170,000.00 (the "Silvercrest Note" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mag Magna Corp entered into Securities Purchase Agreement with CFI Capital with CFI Capital, LLC valued at $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000 (effective 2026-04-01).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- CFI Capital, LLC
- Value
- $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000
- Effective
- 2026-04-01
Exact text from the filing
Effective April 1, 2026, Mag Magna Corp., a Wyoming corporation (the "Company" ), entered into a Securities Purchase Agreement (the "CFI Capital SPA" ) with CFI Capital, LLC ( "CFI Capital" ), pursuant to which the Company issued to CFI Capital a 6% convertible redeemable note in the principal amount of $170,000.00 (the "CFI Capital Note" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).
View on SEC.gov
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