InvestmentMay 8, 2026, 07:21 AM
HNO International Secures $62,500 in Convertible Note & Warrant Deal
AI Summary
HNO International, Inc. entered into a Securities Purchase Agreement with Monroe Street Capital Partners, LP, securing $62,500 in gross proceeds. The company issued a Convertible Promissory Note with a $67,500 principal amount, including a $5,000 original issue discount and an 8% interest charge, maturing in May 2027. Additionally, a Common Stock Purchase Warrant for up to 385,000 shares at $0.25 per share was issued, exercisable for five years. The note is convertible at a variable price, and the company has reserved 20,000,000 shares for potential conversion and exercise.
Key Highlights
- Secured $62,500 in gross proceeds ($57,625 net) from Monroe Street Capital Partners, LP.
- Issued a Convertible Promissory Note with a $67,500 principal amount, including a $5,000 original issue discount.
- The note bears an 8% one-time interest charge ($5,400) and matures on May 5, 2027.
- Issued a Common Stock Purchase Warrant to purchase up to 385,000 shares at an exercise price of $0.25 per share.
- The warrant is exercisable from May 5, 2026, and expires on May 5, 2031.
- Note convertible at 60% of the lowest traded price over 20 days, subject to a 4.99% beneficial ownership limit.
- Company reserved 20,000,000 shares for conversion of the note and exercise of the warrant.
- Prohibits Variable Rate Transactions and restricts share issuance for 30 days post-agreement.
Price Impact
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