Loan & DebtAug 4, 2026, 04:19 PM
Republic Power Group Issues Convertible Note to Dune
AI Summary
Republic Power Group Ltd issued a convertible note to Dune Equity Holdings LLC, along with 53,000 Class A ordinary shares as commitment shares for the first tranche. The note carries a 12% annual interest rate and matures in 12 months, convertible into Class A shares at 80% of recent trading prices. A second tranche of $285,000 is conditional on various factors, including the effectiveness of a resale registration statement, which the company is required to file within 30 days. The agreement includes stringent default provisions, requiring payment of 150% of the outstanding principal plus accrued interest and collection costs upon an event of default.
Key Highlights
- Republic Power Group issued a convertible note to Dune Equity Holdings LLC.
- 53,000 Class A ordinary shares were issued as commitment shares for the first tranche.
- The note bears 12% annual interest and matures in 12 months.
- It is convertible into Class A shares at 80% of the average of the three lowest traded prices over 10 days.
- A second tranche of $285,000 is contingent on conditions including SEC registration effectiveness.
- The company must file a resale registration statement within 30 days of July 24, 2026.
- An event of default triggers immediate payment of 150% of outstanding principal plus interest and costs.
Price Impact
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