Kinetic Seas enters USD 210,000 convertible note financing with CFI Capital
KSEZ•Share reserve for conversion
The company reserved 49,857,550 shares for conversion; the reserve must stay at least five times the shares required for full conversion.
Conversion terms and redemption features
The holder can convert starting six months post-issuance at 60% of the lowest price over the prior 20 trading days; 50% during a DTC chill.
Early redemption is allowed with premiums of 105% to 140% of outstanding principal, depending on timing.
Convertible note financing with CFI Capital
Kinetic Seas entered a Securities Purchase Agreement with CFI Capital on July 8, 2026, issuing a 6% Convertible Redeemable Note for USD 210,000.
Original issue discount of USD 21,000; gross proceeds of USD 189,000 before transaction expenses; maturity set for July 8, 2027.
