KIDZ AI issues USD 1.9 million senior secured convertible note to Solana Growth Ventures
KIDZ•Security and ranking
The debt ranks senior to other indebtedness and is secured by a first-priority perfected security interest, subject to permitted liens.
Note terms and conversion features
The note carries 7% annual interest and matures on Sept. 17, 2028. Interest is payable quarterly.
The holder may convert the note into Class B common stock at an initial USD 3.67 per share, subject to adjustments.
Additional closing under securities purchase agreement
KIDZ AI Inc. said it completed an additional closing under a May 30, 2025 securities purchase agreement with Solana Growth Ventures.
The company issued a USD 1.9 million senior secured convertible note, with proceeds reduced by placement agent fees and offering expenses.
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