RMX Industries issues $295,550 in 12% promissory debt
RMXI•RMX Industries issued Vanquish Funding Group a $295,550 promissory note carrying 12% interest, with a $257,000 purchase price and proceeds intended for general working capital. The note matures October 15, 2027, and additional financing of up to $1.1 million requires further agreement.
1. Note terms
RMX Industries issued a $295,550 promissory note to Vanquish Funding Group on October 21, 2026. The $257,000 purchase price reflects a $38,550 original issue discount, and the proceeds are intended for general working capital. The note matures October 15, 2027, and may be prepaid at any time without penalty.
2. Potential financing
Additional tranches totaling up to $1.1 million over the next 12 months require further agreement. Conversion into Class A common stock requires a continuing default, cannot occur within 180 days and carries a 35% discount.
