DealsMay 1, 2026, 05:31 PM
HNO International secures $30M equity purchase agreement
AI Summary
HNO International Inc. entered into an Equity Purchase Agreement with Lambda Ventures LLC, enabling the company to sell up to $30 million of its common stock over a 24-month period. As consideration for the commitment, HNO International will issue 500,000 initial commitment shares and additional shares for every $2.5 million drawn. The company also signed a Registration Rights Agreement to facilitate the resale of these shares, with a registration statement to be filed within 30 days.
Key Highlights
- HNO International secured an Equity Purchase Agreement for up to $30,000,000.
- The agreement allows the company to sell common stock over a period of up to 24 months.
- The company will issue 500,000 initial commitment shares to Lambda Ventures LLC.
- Additional commitment shares will be issued for every $2,500,000 in aggregate gross proceeds.
- The purchase price per share will be 80% of the lowest traded price.
- HNO International agreed to pay $10,000 for the Investor's legal counsel expenses.
- A Registration Rights Agreement was also entered into for the resale of shares.
Price Impact
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