IMT issues $222,222.22 convertible note to C/M Capital Master Fund
IMTE•Integrated Media Technology issued convertible notes with $555,555.55 in aggregate principal for a $500,000 purchase price. C/M Capital Master Fund bought a $222,222.22 note for $200,000, with 5% annual interest and a $1-per-share conversion price.
1. Convertible note terms
Integrated Media Technology issued convertible promissory notes with aggregate principal of $555,555.55 for a $500,000 purchase price. Lead investor C/M Capital Master Fund purchased a $222,222.22 note for $200,000, reflecting a 10% original issue discount. The note carries 5% annual interest, matures on August 10, 2027, and may be converted into ordinary shares at $1 per share, subject to adjustments. Prepayment is permitted without penalty with at least five business days’ written notice.
