2026-03-17 17:46:40
HNO International, Inc. Secures $150,000 Financing Through Convertible Note Agreement
Expected Stock impact: Slightly Positive
On March 12, 2026, HNO International, Inc. entered into a Securities Purchase Agreement with CFI Capital LLC, resulting in the issuance of a Convertible Redeemable Promissory Note valued at $150,000. The agreement includes a $12,000 original issue discount, leading to a net funding of approximately $133,000 after legal fees. The note, which matures on March 12, 2027, carries an interest rate of 8% per annum. Notably, the note allows for conversion into shares of the company's common stock at a price equal to 60% of the lowest trading price over the preceding 20 days, with provisions for adjustments in certain scenarios. The company has committed to reserving 7,861,635 shares for potential conversions, ensuring sufficient equity is available to meet obligations under the note. This financing arrangement is expected to provide HNO International with necessary liquidity to support its operational needs and strategic initiatives. The most-favored-nation clause in the note allows the holder to benefit from more favorable terms if the company issues securities with better conditions to other investors. This development is seen as a positive step for HNO International, enhancing its financial flexibility and positioning for future growth.
