InvestmentAug 10, 2026, 11:58 AM
HyOrc Secures $7.5M Equity Commitment, $70K Convertible Notes
AI Summary
HyOrc Corp has entered into an Equity Purchase Agreement with Lambda Ventures LLC, allowing the company to sell up to $7.5 million of its common stock. Concurrently, HyOrc secured $70,200 through convertible promissory notes issued to Jefferson Street Capital LLC and Lambda Ventures LLC. These financing agreements include the issuance of commitment shares and a registration rights agreement for the shares.
Key Highlights
- Entered Equity Purchase Agreement with Lambda Ventures for up to $7,500,000 in common stock.
- Company can direct Lambda to purchase shares at 80% of the applicable market price.
- Issued 750,000 common shares to Lambda as Initial Commitment Shares.
- Secured $70,200 through convertible promissory notes from two investors.
- Notes carry a 12% interest charge and $2,600 original issue discount.
- Notes are convertible into common stock at 77% of the lowest traded price.
- Issued 250,000 restricted common shares as commitment shares for the notes.
Price Impact
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