Loan & DebtApr 30, 2026, 03:36 PM
AERA Secures $51,500 Convertible Note from Lambda Ventures
AI Summary
AI Era Corp. (AERA) entered into a Securities Purchase Agreement with Lambda Ventures, LLC, for the issuance and sale of a convertible promissory note with a principal amount of $51,500. The note was purchased for $50,000, including a $1,500 original issue discount, with $5,000 withheld for legal fees. The funds are earmarked for the company's SaaS Artificial Intelligence build-out. The note carries a 10% annual interest rate, matures in 12 months, and is convertible into common stock at 80% of the lowest traded price, with significant penalties for default.
Key Highlights
- AI Era Corp. issued a convertible promissory note with a principal amount of $51,500.
- The note was purchased for $50,000, including a $1,500 original issue discount.
- Lambda Ventures, LLC, withheld $5,000 from the purchase price for legal fees.
- The note bears interest at a rate of 10% per annum, with the first 12 months guaranteed.
- It matures twelve months from the issue date.
- The note is convertible into common stock at 80% of the lowest traded price over 20 trading days.
- Upon default, the outstanding principal and accrued interest become immediately due and payable at 150% of the outstanding amount.
- Net proceeds will be used for the company's SaaS Artificial Intelligence build-out.
Price Impact
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