Loan & DebtJun 22, 2026, 06:07 AM
Exyn Technologies to pay $1.42M, issue 100K shares to Evergreen
AI Summary
Exyn Technologies, Inc. entered into a Confidential Side Letter Agreement with Evergreen Capital Management, LLC to prevent an event of default under a prior Note and Warrant Purchase Agreement. Under the terms, Exyn will pay Evergreen a total of $1,417,164.99 in three equal monthly installments, with the first payment due on June 17, 2026. Additionally, Exyn agreed to issue 100,000 shares of common stock to Evergreen, and no further liquidated damages or penalty interest will be assessed.
Key Highlights
- Exyn Technologies entered a Confidential Side Letter Agreement with Evergreen Capital Management, LLC.
- Agreement prevents Evergreen from declaring an event of default under a previous Note and Warrant Purchase Agreement.
- Exyn will pay Evergreen an aggregate of $1,417,164.99 in three equal monthly installments.
- First installment of $472,388.33 was due June 17, 2026, with subsequent payments on July 17 and August 16, 2026.
- Exyn will issue 100,000 additional shares of common stock to Evergreen.
- No additional liquidated damages or penalty interest will be assessed under the agreement.
Price Impact
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