Loan & DebtMay 8, 2026, 04:22 PM
Brag House Holdings Issues $2.5M Senior Secured Convertible Notes
AI Summary
Brag House Holdings, Inc. entered into a Purchase Agreement with institutional investors to issue Senior Secured Convertible Notes totaling $2,500,000 in principal amount. The company received $1,875,000 after a 25% original issue discount and also issued 3,000,000 shares of common stock as a commitment fee. The notes carry a 12.0% annual interest rate and mature on February 4, 2027, with proceeds intended for the anticipated merger with House of Doge, Inc.
Key Highlights
- Issued Senior Secured Convertible Notes with an aggregate original principal amount of $2,500,000.
- Received $1,875,000 in subscription amount, reflecting a 25% original issue discount.
- Issued 3,000,000 shares of Common Stock as a commitment fee to the purchasers.
- Notes bear interest at 12.0% per annum, increasing to 17.5% upon an Event of Default.
- Notes mature on February 4, 2027.
- Notes are convertible into Common Stock at a price of $0.7101 per share.
- Net proceeds from the offering were deposited with House of Doge, Inc. for an anticipated merger.
- Company is obligated to grant a second priority perfected security interest in substantially all assets.