InvestmentMay 14, 2026, 06:31 AM
HyOrc Secures $118K Net Proceeds via Convertible Notes
AI Summary
HyOrc Corporation entered into Securities Purchase Agreements with Monroe Street Capital Partners LP and Lambda Ventures LLC, issuing convertible promissory notes with an original principal amount of $135,000. The company received net proceeds of approximately $118,000 after accounting for original issue discounts and legal fees. The notes are convertible into common stock at a discounted price and include the issuance of 250,000 commitment shares to the investors, with up to 8,000,000 shares reserved for potential conversion.
Key Highlights
- HyOrc issued $135,000 in convertible promissory notes to Monroe Street Capital Partners LP and Lambda Ventures LLC.
- The company received net proceeds of approximately $118,000 after discounts and legal fees.
- Notes mature in 12 months and are convertible into common stock at 77% of the lowest trading price.
- HyOrc issued an aggregate of 250,000 commitment shares to the investors.
- The company reserved up to 8,000,000 shares of common stock for conversion of the notes.
- HyOrc has the right to prepay the notes at 110% of the outstanding balance within 181 days.
Price Impact
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