[sheet: Schedule of Purchasers]
Purchaser Full Legal Name | Short Name | Entity Type | Jurisdiction of Organization | Principal Office Address | Deal Lead / Authorized Signatory | Title | Aggregate Commitment Amount | Percentage of Round | Initial Closing Amount (January 15, 2024) | Final Closing Amount (January 26, 2024) | Existing / New Investor | Wire Instructions — Bank Name | Wire Instructions — ABA/Routing Number | Wire Instructions — Account Name | Wire Instructions — Account Number | Wire Instructions — Reference
Ridgeline Ventures Fund IV, L.P. | Ridgeline | Limited Partnership | Delaware | 800 Boylston Street, 34th Floor, Boston, MA 02199 | Samuel Okonkwo | Partner (Deal Lead) | $30,000,000 | 50.00% | $30,000,000 | $0 | Existing (via Ridgeline Ventures Fund III, L.P. — Series C) | Ridgeline Ventures Fund IV Deposit Account — Eastport National Bank, N.A. | 021-076-443 | Ridgeline Ventures Fund IV, L.P. | 8840-2261-7715 | Skybridge Fintech Ltd. — Convertible Note Bridge Financing
Beacon Hill Capital Partners, LLC | Beacon Hill | LLC | Delaware | 222 West Adams Street, Suite 3400, Chicago, IL 60606 | Joanna Falkner | Managing Director (Deal Lead) | $15,000,000 | 25.00% | $10,000,000 | $5,000,000 | Existing (Series C) | Beacon Hill Capital Partners Operating Account — Lakeview Commerce Bank | 071-093-558 | Beacon Hill Capital Partners, LLC | 5523-0194-8807 | Skybridge Fintech Ltd. — Convertible Note Bridge Financing
Northstar Innovation Fund II, L.P. | Northstar | Limited Partnership | Delaware | 555 California Street, Suite 4100, San Francisco, CA 94104 | Wei-Lin Chang | Managing Partner | $10,000,000 | 16.67% | $0 | $10,000,000 | New Investor | Northstar Innovation Fund II Capital Account — Pacific Summit Bank | 121-044-672 | Northstar Innovation Fund II, L.P. | 3307-6842-1190 | Skybridge Fintech Ltd. — Convertible Note Bridge Financing
Halcyon Growth Equity, L.P. | Halcyon | Limited Partnership | Delaware | 1201 Third Avenue, Suite 5600, Seattle, WA 98101 | Robert "Rob" Castillo | Partner (Deal Lead) | $5,000,000 | 8.33% | $5,000,000 | $0 | Existing (Series B Lead) | Halcyon Growth Equity Operating Account — Cascade Fidelity Trust | 125-088-319 | Halcyon Growth Equity, L.P. | 7719-4053-2286 | Skybridge Fintech Ltd. — Convertible Note Bridge Financing
TOTAL | $60,000,000 | 100.00% | $45,000,000 | $15,000,000
[sheet: Schedule Header & Notes]
Field | Value
Document Title | Schedule 1 — Schedule of Purchasers
Agreement Reference | Note Purchase Agreement dated January 15, 2024
Issuer / Company | Skybridge Fintech Ltd.
Issuer EIN | 83-2147605
Issuer Address | 1400 Market Street, Suite 2200, Wilmington, DE 19801
Issuer Jurisdiction | Delaware (C-corp)
Issuer DE File Number | 6384291
Aggregate Principal Amount | $60,000,000
Instrument | Convertible Promissory Notes
Interest Rate | 6.00% per annum (600 basis points), simple interest, 365-day year
Maturity Date | January 15, 2026 (24 months from Initial Closing)
Valuation Cap | $750,000,000 pre-money
Conversion discount | 20%
Cap-Implied Price per Share | ~$15.46 ($750,000,000 ÷ 48,500,000 fully diluted shares)
Qualified Financing Threshold | $80,000,000 minimum new equity capital
Initial Closing Date | January 15, 2024
Initial Closing Amount | $45,000,000
Initial Closing Participants | Ridgeline Ventures Fund IV, L.P. ($30,000,000); Beacon Hill Capital Partners, LLC ($10,000,000); Halcyon Growth Equity, L.P. ($5,000,000)
Final Closing Date | January 26, 2024
Final Closing Amount | $15,000,000
Final Closing Participants | Beacon Hill Capital Partners, LLC ($5,000,000); Northstar Innovation Fund II, L.P. ($10,000,000)
Escrow Agent | Granite Trust Company, N.A.
Escrow Agent Address | 100 Summer Street, Boston, MA 02110
Escrow Agent Contact | Angela Petrov
Escrow Account Number | 4401-7829-SBF
Escrow Fee | $7,500 (flat fee, borne by the Company)
Company Counsel | Calderwood & Harkness LLP, 600 Lexington Avenue, New York, NY 10022
Investor Counsel | Whitfield, Pratt & Soo LLP, One Federal Street, 26th Floor, Boston, MA 02110
Governing Law | State of Delaware
Note 1 | All funds wired to the Granite Trust escrow account for release to the Company upon satisfaction of closing conditions.
Note 2 | Wire instructions for each Purchaser are for purposes of receiving any payments or distributions under the Notes. Funding wires from Purchasers should be directed to the Escrow Account referenced above.
Note 3 | Northstar Innovation Fund II, L.P. joined as a Purchaser at the Final Closing pursuant to the Joinder Agreement dated January 26, 2024.
Note 4 | Notes are subordinated to the existing venture debt facility of Kelvantis Lending Corp. ($15,000,000; Loan and Security Agreement dated August 15, 2022) per the Subordination Agreement dated January 15, 2024.
[sheet: GP & Entity Details]
Purchaser | General Partner / Managing Entity Full Legal Name | GP Entity Type | GP Jurisdiction | Authorized Signatory | Title
Ridgeline Ventures Fund IV, L.P. | Ridgeline Ventures Management IV, LLC | LLC (GP entity) | Delaware | Catherine "Kate" Drummond | Managing Partner
Northstar Innovation Fund II, L.P. | Northstar Innovation GP II, LLC | LLC (GP entity) | Delaware | Wei-Lin Chang | Managing Partner
Halcyon Growth Equity, L.P. | Halcyon Growth Management, LLC | LLC (GP entity) | Delaware | Robert "Rob" Castillo | Partner (Deal Lead)
Beacon Hill Capital Partners, LLC | N/A (LLC — no separate GP entity) | LLC | Delaware | Joanna Falkner | Managing Director (Deal Lead)