Clean Vision Corp. enters $580K convertible note with OID, issues 4M commitment shares

Clean Vision Corp

Issued $580K promissory note (incl. $87.5K OID) and 4M restricted shares to accredited investor.
Note matures Jan 15, 2025; carries 10% one-time interest ($58K); 7 payments of $91,142.86.
Conversion triggers on default; price is lower of fixed, variable, or alternative; 72M shares reserved.
Company agreed to register commitment and conversion shares via amended S-1 registration statement.

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 $580,000.00 (effective 2024-02-15).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Value: $580,000.00
Effective: 2024-02-15

Exact text from the filing

On February 15, 2024, Clean Vision Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Agreement”) with an accredited investor (the “Holder”), whereby the Company issued and sold to the Holder (i) a promissory note (the “Note”) in the aggregate principal amount of $580,000.00 (which includes $87,500.00 of Original Issue Discount) (the “Principal”), convertible into shares of common stock, $0.001 par value per share, of the Company (the “Common Stock”), upon default, upon the terms and subject to the limitations and conditions set forth in such Note, and (ii) 4,000,000 restricted shares of Common Stock (the “Commitment Shares”).

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Clean Vision Corp filing history →

Source: SEC EDGAR

accession 0001903596-24-000105

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