Financing ·
ONAR issues up to $15M in secured convertible notes, raising $7.1M via cash and debt exchange
ONAROnar Holding Corp
On September 28, 2026, ONAR Holding Corp entered into a Securities Purchase Agreement to issue secured convertible promissory notes with an aggregate principal amount of up to $15 million. At initial closing, the company issued $3,944,444.44 in notes for $3,550,000 in cash and exchanged existing indebtedness valued at $6,380,385.52 into Exchange Notes with a principal amount of $7,089,317.25. Concurrently, the company issued senior secured convertible notes up to $5 million, closing with $3,944,444.44 in principal for $3,550,000 in cash plus 9,202,613 incentive shares. The financing carries an 8% interest rate (12% for senior notes), matures in 18 months, and converts to Series 1 Preferred Stock upon a Nasdaq uplisting based on a $25 million pre-money valuation. ONAR Holding Corp operates as an AI-powered marketing platform.