Loan & DebtMay 27, 2026, 04:37 PM
GMEX Robotics Issues Series D Senior Secured Convertible Note
AI Summary
GMEX Robotics Corporation (formerly Fitell Corporation) has issued a Series D Senior Secured Convertible Note on November 7, 2025. This note was issued in exchange for a Series C Senior Secured Convertible Note and accrues interest from its issuance date, payable monthly in Ordinary Shares or cash at the company's discretion. The note is convertible into Ordinary Shares at the holder's option, subject to a 9.99% beneficial ownership limitation. The document also outlines various events of default, including financial and operational breaches, which grant the holder redemption rights at a premium.
Key Highlights
- Series D Senior Secured Convertible Note issued on November 7, 2025.
- Note issued in exchange for a Series C Senior Secured Convertible Note.
- Interest accrues from issuance date, payable monthly in Ordinary Shares or cash.
- Conversion Amount is 103.0% of principal, accrued interest, and late charges.
- Beneficial ownership limit for conversion is 9.99% of outstanding Ordinary Shares.
- Default interest rate increases by 7.0% per annum during an Event of Default.
- Events of Default include registration statement lapse for 5 consecutive days or market cap below $3M for 5 trading days.
- Holder can demand redemption at a premium upon an Event of Default.
Price Impact
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