InvestmentMay 1, 2026, 05:16 PM
iQSTEL Enters $50M Equity Purchase Agreement with M2B Funding
AI Summary
iQSTEL Inc. has entered into an Equity Purchase Agreement and a Registration Rights Agreement with M2B Funding Corp. This agreement allows iQSTEL to sell up to $50,000,000 of its common stock to M2B Funding over a commitment period of up to 60 months. The shares will be purchased at a price equal to 94% of the lowest daily volume-weighted average price during a six-trading-day period, subject to a daily maximum of $500,000 and an Exchange Cap of 19.99% of outstanding shares. As consideration, iQSTEL will issue $1,000,000 in Commitment Shares and will file a resale S-1 registration statement for the shares.
Key Highlights
- iQSTEL entered into an Equity Purchase Agreement with M2B Funding Corp. for up to $50,000,000 of common stock.
- Shares will be purchased at 94% of the lowest daily volume-weighted average price during a six-trading-day period.
- The agreement includes a daily maximum purchase amount of $500,000.
- An Exchange Cap of 19.99% of shares outstanding on the Execution Date applies, unless stockholder approval is obtained.
- The Commitment Period can last up to 60 months from the Registration Statement's effective date.
- iQSTEL will issue $1,000,000 in Commitment Shares as consideration for the funding commitment.
- The company is required to file a resale S-1 registration statement within 90 days, aiming for effectiveness within 180 days.
- Proceeds from the agreement will be used for general corporate purposes.