Loan & DebtNov 10, 2026, 04:32 PM
OBOOK HOLDINGS INC. Issues $5.75M Convertible Promissory Note
AI Summary
OBOOK HOLDINGS INC. has issued a $5,750,000 Senior Secured Convertible Promissory Note to Lind Global Asset Management XV LLC, maturing on May 9, 2028. The note does not accrue interest unless an event of default occurs, at which point a 10.0% default interest rate applies. Principal repayment is structured with monthly installments starting in March 2027, with provisions for early prepayment by the company and conversion options for the holder. The note is secured by collateral and guaranteed by subsidiaries.
Key Highlights
- OBOOK HOLDINGS INC. issued a $5,750,000 Senior Secured Convertible Promissory Note due May 9, 2028.
- The note is secured by collateral and guaranteed by subsidiaries.
- Interest is not accrued unless a default occurs, at which point it becomes 10.0% per annum.
- Principal repayment begins in March 2027 with monthly installments of $410,714, adjustable by the holder.
- The note can be prepaid by the company under certain conditions after shares become freely tradable.
- Events of default include payment failures, breaches of agreements, bankruptcy, and delisting.
Price Impact
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