Taoping enters USD 3.2 million convertible note deal with Streeterville Capital
TAOP•Use of proceeds
Net proceeds are estimated at about USD 3 million and are earmarked for working capital and general corporate purposes.
Convertible note agreement with Streeterville Capital
Taoping entered a securities purchase agreement with Streeterville Capital on July 15, 2026 for an unsecured convertible promissory note.
- Original principal amount: USD 3.2 million, including a USD 180,000 original issue discount and USD 15,000 in transaction costs.
- The note matures in 12 months.
- Interest accrues at 7% annually, rising to up to 18% on an uncured trigger event.
- The investor can convert at USD 6 per share.
- Redemptions are capped at USD 250,000 per month, with share-settlement tied to 80% of recent VWAP.
