Loan & DebtJun 16, 2026, 08:21 AM
Our Bond, Inc. Exchanges $3.3M Debt for Preferred Stock; Amends Warrants
AI Summary
Our Bond, Inc. (OBAI) entered into an Exchange Agreement with Ascent Partners Fund LLC, exchanging $3,302,457.63 in outstanding promissory notes for 366,941 shares of Series G Convertible Preferred Stock. The Series G Preferred Stock is convertible into common stock at $2.0265 per share and accrues a 10% annual dividend. Additionally, the company amended its Series C and D Preferred Stock designations to align redemption provisions with the new Series G terms. Ascent Partners Fund LLC's existing warrants were also amended, with reduced exercise prices for some tranches and the termination of all other warrants held by Ascent.
Key Highlights
- Our Bond, Inc. exchanged $3.3M in promissory notes for 366,941 shares of Series G Convertible Preferred Stock.
- The Series G Preferred Stock has a $10.00 stated value, is convertible at $2.0265 per share, and carries a 10% annual dividend.
- The company amended Series C and D Preferred Stock designations to align redemption terms with Series G.
- Ascent Partners Fund LLC's warrants were amended: 16-month warrants now have a $1.25 exercise price, and 24-month warrants have $1.25 and $2.25 exercise prices for different tranches.
- All other warrants held by Ascent Partners Fund LLC were terminated and canceled.
Price Impact
More from OBAI