Citrine Global (CTGL) has released an update.
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Citrine Global Corp. secured a loan of $55,000 from 1800 Diagonal Lending LLC with a principal amount of $63,250, to be repaid in nine installments totaling $72,737 by November 15, 2024. The note carries a 15% interest rate with a default rate of 22% and grants the lender the right to convert the unpaid balance into company stock at a 39% discount from the stock’s lowest trading price over the prior 20 days. The company has also committed to reserving over 51 million shares for potential conversion, with the lender having the authority to increase this reserve to meet the terms of the note.
For further insights into CTGL stock, check out TipRanks’ Stock Analysis page.