Loan & DebtJul 8, 2026, 05:32 PM
Clean Energy Technologies Secures $166.5K Convertible Note
AI Summary
Clean Energy Technologies, Inc. entered into a securities purchase agreement with Coventry Enterprises LLC, selling a convertible promissory note with a principal amount of $166,500 for a purchase price of $150,000. The company received net funding of $141,000, with proceeds designated for general working capital. The note matures on May 1, 2027, accrues a one-time 12% interest charge, and will be repaid in 10 monthly installments of $18,648. Following a default, the note is convertible into common stock at a conversion price equal to 85% of the lowest closing bid price, subject to beneficial ownership and shareholder approval limitations.
Key Highlights
- Company entered a securities purchase agreement with Coventry Enterprises LLC.
- Sold a convertible promissory note with a principal amount of $166,500.
- Purchase price for the note was $150,000.
- Company received net funding of $141,000 after expenses.
- Note matures on May 1, 2027, with a one-time 12% interest charge.
- Repayment in 10 monthly payments of $18,648, starting August 7, 2026.
- Convertible into common stock at 85% of the lowest closing bid price following default.
- Conversion limited to 4.99% beneficial ownership or 19.99% without shareholder approval.
Price Impact
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