Clean Vision Corp issues $660K 12% convertible notes with heavy dilution potential

Clean Vision Corp

Two $330K convertible notes sold at $300K each (12% original issue discount) to accredited investor.
Conversion price fixed at $0.025/share, with step-downs to $0.0145 or lowest trade if stock stays low.
Issued 800K commitment shares for first note; plus 7.5M returnable shares per note (subject to price recalculation).
Notes mature July 26, 2024; four $75K principal installments starting 180 days after issuance.
If Company raises >$2M in future financing, Purchaser can force prepayment from those proceeds.

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

Clean Vision Corp entered into Securities Purchase Agreement with an accredited investor valued at $660,000 (effective 2023-10-26).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Value: $660,000
Effective: 2023-10-26

Exact text from the filing

On October 26, 2023, Clean Vision Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Agreement”) with an accredited investor (the “Purchaser”) related to the Company’s sale of two 12% convertible notes in the aggregate principal amount of $660,000

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481 material agreements filed in the last 30 days. Browse all material agreements →

Clean Vision Corp filing history →

Source: SEC EDGAR

accession 0001903596-23-000941

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