Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | GWAV | Convertible Note | Other | $4.76M | 95.3M | Nov 30, 2021 | Common Stock | 95.3M | $0.05 | Direct | F1, F2, F3, F4 | |||
transaction | GWAV | Common Stock Purchase Warrant | Other | +95.3M | 95.3M | Nov 30, 2021 | Common Stock | 95.3M | $0.07 | Direct | F2, F5 |
Id | Content |
---|---|
F1 | The Convertible Note bears interest at the rate of 10% per annum. At the election of the Reporting Person, all principal and accrued but unpaid interest under the Convertible Note may be converted into the Issuer's common stock. For each $0.05 converted, the Reporting Person will receive one share of common stock. However, the Reporting Person shall not have the right to any shares of common stock otherwise issuable upon the conversion of the Convertible Note if after giving effect to such issuance, the Reporting Person would beneficially own in excess of 4.99% of the Issuer's outstanding shares of common stock. |
F2 | The Convertible Note and Warrant were issued to the Reporting Person in exchange for the rollover by the Reporting Person of certain indebtedness of the Issuer held by the Reporting Person. |
F3 | The Convertible Note is currently exercisable and will mature on May 30, 2022. The Convertible Note is convertible from time to time at the option of the Reporting Person and automatically converts into shares of the Issuer's common stock upon the listing of the Issuer's common stock on a national securities exchange and subsequent firm commitment underwritten public offering for gross proceeds of not less than $5,000,000. |
F4 | Excludes shares of common stock issuable upon conversion of accrued interest. |
F5 | The Reporting Person shall not have the right to exercise any portion of the Warrant to the extent that after giving effect to such exercise and the issuance of common stock pursuant thereto, the Reporting Person would beneficially own in excess of 4.99% of the Issuer's outstanding shares of common stock, which may be increased to 9.99% at the Reporting Person's option. |