Loan & DebtMay 12, 2026, 04:24 PM
Securetech Issues $557.5K Convertible Notes; Repays $244.4K Debt
AI Summary
Securetech Innovations, Inc. issued two new 10% convertible promissory notes totaling $557,500 in principal amount to Willow Creek Capital Holdings, LLC and Red Rock Development Group, LLC, resulting in net proceeds of $500,000. These notes are due May 8, 2027, and convertible into common stock at 60% of the lowest trading price after six months. Concurrently, the company fully repaid a 6% convertible note to CFI Capital, LLC for an aggregate of $244,362.33, including significant prepayment and standstill fees.
Key Highlights
- Securetech issued a $112,500 principal 10% convertible note to Willow Creek, yielding $100,000 net proceeds.
- Securetech issued a $445,000 principal 10% convertible note to Red Rock, yielding $400,000 net proceeds.
- Total new convertible notes issued amount to $557,500 in principal, providing $500,000 in net proceeds.
- New notes are convertible after 6 months at 60% of the lowest trading price over 15 days.
- Securetech repaid a 6% convertible note to CFI Capital, LLC for $244,362.33 on May 11, 2026.
- The repayment included $150,000 principal, $5,795.52 interest, $62,317.81 prepayment fee, and $26,250.00 standstill fees.
Price Impact
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