Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Arax Holdings Corp incurred convertible notes of $3,432,980 with various private accredited investors at 10% per annum maturing 2 years from the issue date.
- Instrument
- convertible notes
- Principal
- $3,432,980
- Counterparty
- various private accredited investors
- Rate
- 10% per annum
- Maturity
- 2 years from the issue date
- Event
- incurrence
Exact text from the filing
From February 1 st through. May 10 th of 2023, Arax Holdings Corp. (the “Company”) entered into a series of convertible notes with various private accredited investors (“Note Holders”), pursuant to which Note Holders entered into convertible promissory notes (the “Notes”) from the Company in the aggregate principal amount of $3,432,980, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of the Note Holder. The Company intends to use the net proceeds ($3,432,980) from the Notes for general working capital purposes. The maturity date of the Notes are 2 years from the issue date (the “Maturity Date”). The Notes shall bear interest at a rate of 10% per annum.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Arax Holdings Corp entered into a notes offering with various private accredited investors valued at $3,432,980.
- Action
- entry
- Agreement
- notes offering
- Counterparty
- various private accredited investors
- Value
- $3,432,980
Exact text from the filing
From February 1 st through. May 10 th of 2023, Arax Holdings Corp. (the “Company”) entered into a series of convertible notes with various private accredited investors (“Note Holders”), pursuant to which Note Holders entered into convertible promissory notes (the “Notes”) from the Company in the aggregate principal amount of $3,432,980
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