Loan & DebtOct 8, 2026, 06:07 AM
Eva Live Inc. Secures Up To $1.875M Via Secured Promissory Note
AI Summary
Eva Live Inc. has entered into a securities purchase agreement with Dune Equity Holdings LLC for a secured promissory note of up to $1,875,000. The initial tranche of $937,500 in principal was purchased for $787,500, with Eva Live also issuing 75,000 commitment shares. Dune has the option to fund additional tranches. The note bears a 12% interest rate, is secured, and is convertible into common stock. Proceeds will be used for business development and working capital.
Key Highlights
- Eva Live Inc. entered into a securities purchase agreement with Dune Equity Holdings LLC.
- The agreement involves the sale of a 12% secured promissory note with a principal sum of up to $1,875,000.
- Dune funded a First Tranche of $937,500 principal for a purchase price of $787,500.
- Eva Live Inc. issued 75,000 shares of Common Stock as commitment shares to Dune.
- Dune has the option to fund a Second Tranche ($312,500 principal) and a Third Tranche ($625,000 principal).
- The note is secured and convertible into common stock at a conversion price of $2.50 or a market-based price.
- Proceeds are to be used for business development and general working capital.
Price Impact
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