Crypto Company (CRCW) has released an update to notify the public and investors about an entry into a material definitive agreement.
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The Crypto Company secured a $50,000 loan from AJB Capital Investments via a Securities Purchase Agreement, receiving $40,000 net after fees for working capital and potential strategic investments. The uninterest-bearing note, due in July 2024, allows early repayment and imposes restrictions including prioritizing AJB’s debt and maintaining stock listing standards. Default triggers include a significant interest hike and potential stock conversion at a discounted rate, with the Company’s assets pledged as collateral. The transaction was privately executed, bypassing Securities Act registration requirements.
For further insights into CRCW stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
