Loan & DebtJul 15, 2026, 02:51 PM
HNO International Secures Convertible Note Financing
AI Summary
HNO International, Inc. amended its prior 8-K filing to disclose an additional financing transaction with Lambda Ventures, LLC, which was inadvertently omitted. On May 5, 2026, the company entered into two separate financing agreements, one with Monroe Street Capital Partners, LP and the other with Lambda Ventures, LLC. Both transactions involved the issuance of Convertible Promissory Notes and Common Stock Purchase Warrants on substantially similar terms, providing the company with capital.
Key Highlights
- Secured $62,500 gross proceeds from Monroe Street Capital Partners, LP.
- Net proceeds from Monroe Street transaction were approximately $57,625.
- Issued Convertible Promissory Note with $67,500 principal and 8% interest to Monroe Street.
- Issued Common Stock Purchase Warrant for up to 385,000 shares at $0.25/share to Monroe Street.
- Entered into a separate, similar financing transaction with Lambda Ventures, LLC on May 5, 2026.
- Convertible notes mature on May 5, 2027, with conversion at 60% of lowest traded price.
- Warrants are exercisable for five years, expiring May 5, 2031.
Price Impact
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