Corporate ActionMay 4, 2026, 06:12 AM
Our Bond Reduces Equity Line to $50M; Issues $1M Note
AI Summary
Our Bond, Inc. entered into Amendment No. 3 to its Securities Purchase Agreement with Ascent Partners Fund LLC, significantly reducing the maximum aggregate purchase price from $300 million to $50 million and adjusting conditions for Expanded Closings. The company also amended common stock purchase warrants held by Ascent, adjusting exercise prices for 9 million warrants and canceling others. Additionally, Our Bond issued a new $1 million promissory note to Ascent, bearing 10% annual interest and maturing on September 1, 2026, with mandatory prepayments from future offerings. Finally, amendments to Series C and D Preferred Stock conversion prices and leak-out provisions were agreed upon, pending board approval.
Key Highlights
- Maximum Aggregate Purchase Price in Equity Line SPA reduced from $300 million to $50 million.
- Expanded Closings now require bid price +15% and trading volume +150% of 10-day average, or average daily traded value over $4 million.
- Issued a $1,000,000 Promissory Note to Ascent Partners Fund LLC, maturing September 1, 2026, with 10% annual interest.
- Mandatory prepayment of 25% of net proceeds from future offerings for the Promissory Note.
- Adjusted exercise prices for 9,000,000 Warrants held by Ascent, ranging from $1.25 to $4.50 per share.
- Cancelled 15,991,902 warrants at $12.35/share and 300,000 warrants at $3.2475/share.
- Series D Preferred Stock conversion price adjusted to $2.0265 per share.
- New 'leak-out' provision for Series C and D Preferred Stock limits daily sales to 10% of total daily share volume.