Generation Income Properties entered into a Debt Conversion Agreement to convert $120,000 of outstanding debt owed to the David E. Sobelman Revocable Trust into common stock. The conversion, completed on July 24, 2026 at $0.74 per share, resulted in the issuance of 162,163 shares and reduced the balance of the 2025 promissory note. The company said the move, together with a recent preferred equity amendment, supports stockholders' equity above $5 million as Nasdaq continues to monitor compliance.
Agreement details:
- Agreement type: Debt Conversion Agreement (conversion of promissory note debt to common stock)
- Counterparty: David E. Sobelman Revocable Trust
- Signed / Effective: Jul 24 2026 / Jul 24 2026
- Duration / Termination: N/A
- Reason: Strengthen balance sheet and support Nasdaq equity compliance
Original SEC Filing:
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