Loan & DebtJul 23, 2026, 04:13 PM
Eva Live Secures $2.16M Convertible Note from Streeterville
AI Summary
Eva Live Inc. has entered into a Securities Purchase Agreement with Streeterville Capital, LLC to sell a secured convertible note with an aggregate original principal amount of $2,160,000. The company will receive gross proceeds of $2.0 million, which it intends to use for working capital, general corporate purposes, and business objectives. The Initial Note includes an 8% original issue discount, bears 8% annual interest, and matures in 24 months, with a conversion price tied to VWAP and a floor of $0.472. The agreement also grants the investor the right to purchase an additional $1,250,000 note and includes various investor-friendly terms such as prepayment penalties and default triggers.
Key Highlights
- Eva Live Inc. entered a Securities Purchase Agreement with Streeterville Capital, LLC.
- Company to sell a secured convertible note (Initial Note) with a principal of $2,160,000.
- Gross proceeds from the Initial Note sale will be $2.0 million.
- Initial Note issued at an 8% original issue discount and bears 8% interest per annum, maturing in 24 months.
- Conversion price is 87% of the lowest daily VWAP over 10 trading days, with a floor price of $0.472.
- Company can prepay the Initial Note at 110% of the outstanding balance.
- Investor has the right to purchase an additional note (Additional Note) of $1,250,000.
- The note is secured by collateral including equity interests in subsidiaries, customer accounts, goods, and equipment.
Price Impact
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