Edgemode Issues $159,600 Convertible Note to Accredited Investor
Bitget2026/10/23 20:06- Edgemode issued a $159,600 unsecured original issue discount convertible promissory note to an accredited investor, effective October 19, 2026.
- Net proceeds of $133,000 will fund working capital; the company separately paid $8,000 to reimburse investor legal and due diligence fees.
- The note carries a one-time 15% interest charge, with repayment in four monthly installments from April 15 through July 15, 2027.
- Default triggers 22% annual interest on overdue amounts; accelerated repayment equals 150% of outstanding obligations, rising to 200% in certain circumstances.
- Conversion requires default and 180 days from issuance; pricing is 61% of the lowest closing trading price over the preceding 20 trading days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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