CalEthos, Inc. issued up to 5,000,000 shares of our common stock of warrant to SFO IDF LLC for a loan to us in the amount of $15,000,000.
“SFO IDF LLC, a company owned and controlled by a trust established for the benefit of certain family members of Sean Fontenot, a director of our company, the trustees of which are independent and not affiliated with Mr. Fontenot ("SFO IDF"), made a loan to us in the amount of $15,000,000 in consideration for which we issued to SFO IDF a promissory note in the principal amount of $15,000,000 that bears interest at the rate of 8% per annum and matures on December 31, 2028 (the "Note") and a seven-year warrant to purchase up to 5,000,000 shares of our common stock with an exercise price of $0.50 per share (the "Warrant").”
Material Agreements
CalEthos, Inc. entered into Exchange Agreement with 14 holders valued at $5,417,459.50 (effective 2023-12-11).
“Between December 11, 2023 and February 20, 2024, CalEthos Inc. (the “Company”) entered into a series of exchange subscription agreements (each, an “Exchange Agreement” and collectively, the “Exchange Agreements”) with 14 holders (each, a “Holder”) of the Company’s outstanding promissory notes and, in certain cases, related outstanding stock purchase warrants, pursuant to which the Company and the Holders agreed to exchange their promissory notes, and, if applicable, related stock purchase warrants, for shares of the Company’s common stock, par value $0.001per share (the “Common Stock”).”
Joel Stone was appointed as President and Chief Operating Officer at CalEthos, Inc..
“On June 19, 2023, CalEthos, Inc. (the “Company”) entered into an Employment Agreement dated as of June 19, 2023 (the “Employment Agreement”) with Joel Stone, the Company’s President and Chief Operating Officer.”
Sean Fontenot was appointed as Director at CalEthos, Inc..
“the Board of Directors of the Company appointed Steven M. Shum and Sean Fontenot to the Board of Directors of the Company to fill existing vacancies on the Board.”
Steven M. Shum was appointed as Director at CalEthos, Inc..
“the Board of Directors of the Company appointed Steven M. Shum and Sean Fontenot to the Board of Directors of the Company to fill existing vacancies on the Board.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.