Corporate Universe Inc (EM)【COUV】株式ニュース

Form 8-K
September 13, 2023
https://last10k.com/sec-filings/COUV/0001654954-23-011827.htm?utm_source=stocktwits&utm_medium=forum&utm_campaign=8K&utm_term=COUV

Item 1.01 Entry into a Definitive Material Agreement

Securities Purchase Agreement

Effective July 28, 2023, Corporate Universe, Inc. (the “Company”) entered into a Securities Purchase Agreement with an accredited investor (“Buyer”) under which Buyer agreed to purchase up to $1,500,000 in 10% promissory notes (“Notes”) from the Company. The Notes bear interest at a rate of 10% per annum and have a 1-year term. In connection with the purchase of a Note, Buyer will also receive shares (“Shares”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”) in an amount equal to twenty five percent (25%) of the principal amount of the Note subscribed for by Buyer divided by $0.01. On or about July 31, 2023, Buyer funded $500,000 to the Company for an initial closing of Notes and Shares, at which time the Company issued Buyer a Note for $500,000 and 12,500,000 Shares. On or about August 31, 2023, Buyer funded an additional $1,000,000 to the Company for a subsequent closing of Notes and Shares, at which time the Company issued Buyer a Note for $1,000,0000 and 25,000,000 Shares. The proceeds received at the initial and subsequent closing were used for working capital and general corporate purposes. The issuance of the Notes and the Shares were exempt under Rule 506(b) of the Securities Act of 1933, as amended.

The foregoing does not purport to be a complete description of each of the Notes and the Securities Purchase Agreement and is qualified in its entirety by reference to the full text of the Notes and the Securities Purchase Agreement, which are filed as Exhibits 4.1 and 10.1, to this Current Report on Form 8-K and incorporated herein by reference.