Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / charter-bylaws-ira-authorization-memo.docx
charter-bylaws-ira-authorization-memo.docx
Parties
Skybridge Fintech Ltd
Harkness LLP
Delaware General Corp
Kelvantis Lending Corp
Pinnacle Audit Group LLP
Dates
December 1, 2023
September 15, 2023
July 15, 2021
January 15, 2024
January 15, 2026
December 5, 2023
January 10, 2024
January 3, 2024
January 12, 2024
September 30, 2023
Amounts
$60,000,000
$620,000,000
$8.42
$80,000,000
$750,000,000
$15.46
$0.0001
$7,200,000
$10,000,000
$15,000,000
Obligations
The IRA contains preemptive rights (pro rata participation rights), information rights, and consent provisions that must be addressed
The issuance of convertible notes likely constitutes the issuance of "New Securities" triggering preemptive rights held by Major Investors under the IRA, and waivers or confirmations of exclusion must be obtained
Additionally, the IRA must be amended to add the Purchasers—particularly Northstar Innovation Fund II, L
In addition, accrued and unpaid interest must be taken into account
In that scenario, a greater number of shares would be issuable upon conversion, and the Company must ensure that sufficient authorized shares are available to cover such an eventuality
However, the Company must ensure that it has or will have sufficient authorized but unissued shares to accommodate the future conversion