Loan & DebtJun 8, 2026, 04:07 PM
Mitesco Secures $30M ELOC, $225K Bridge Funding; Launches AI RoboAgent
AI Summary
Mitesco, Inc. secured a non-binding term sheet for a $30 million Equity Line of Credit (ELOC) facility with a historical lender, subject to various conditions and a 2% fee. Concurrently, the company received $225,000 in bridge financing through 10% convertible promissory notes from two existing investors, with a total repayment obligation of $247,500. Additionally, Mitesco announced the official launch of its RoboAgent Test Bed Team, an initiative designed to gather real-world feedback for its AI-powered real estate productivity platform, RoboAgent, with industry experts joining the team.
Key Highlights
- Secured non-binding term sheet for $30 million Equity Line of Credit (ELOC) facility.
- ELOC facility includes a 2% fee and is subject to numerous conditions.
- Received $225,000 in bridge financing from two historical investors.
- Bridge notes are 10% OID convertible promissory notes, maturing in 12 months.
- Total repayment obligation for bridge notes is $247,500, convertible at $0.15/share.
- Launched RoboAgent Test Bed Team for its AI-powered real estate productivity platform.
- RoboAgent Test Bed Team includes industry experts for feedback and product development.
Price Impact
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