Financing ·
Converts $8.7M debt to preferred stock and sells up to $10M common at $2.75
OBAIOur Bond, Inc.
Our Bond, Inc. converted $7,878,149 in senior secured debt from Eastward Fund Management LLC and $803,940 in fees owed to Maxim Group LLC into Series G Preferred Stock. The company also exchanged 52,500 shares of Series C and 525,451 shares of Series D Convertible Preferred Stock held by Ascent Partners Fund LLC for 577,948 shares of Series G Preferred Stock, retiring all outstanding warrants held by these parties. Concurrently, the company entered a private placement agreement to sell up to $10,000,000 in common stock at $2.75 per share, issuing an initial tranche of 90,909 shares for $250,000. The filing also details an amended designation for Series G Preferred Stock and a leak-out agreement restricting resale volumes by the new holders.