Clean Energy Technologies entered into a securities purchase agreement to issue a $166,500 convertible promissory note to Coventry Enterprises for $150,000 in funding, effective July 1, 2026. The note carries a one-time 12% interest charge, amortizes in 10 monthly payments of $18,648 starting August 7, 2026, and matures May 1, 2027. Following a default, the holder may convert at 85% of the lowest closing bid over the prior 10 trading days, subject to a 4.99% beneficial ownership cap and Nasdaq 19.99% issuance limits; $1,500 may be deducted per conversion for holder fees.
Agreement details:
- Agreement type: Securities purchase agreement for $166,500 convertible promissory note
- Counterparty: Coventry Enterprises
- Signed / Effective: Jun 29 2026 / Jul 01 2026
- Duration / Termination: Until May 01 2027
- Reason: Provide working capital liquidity
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.