Freight Technologies Files 6-K, Mentions Jan 2023 Note Agreement
Ticker: FRGT · Form: 6-K · Filed: Sep 4, 2024 · CIK: 1687542
Sentiment: neutral
Topics: debt, financing, filing-update
Related Tickers: FREI
TL;DR
FREI 6-K filed, referencing a Jan 2023 convertible note deal. Keep an eye on dilution.
AI Summary
Freight Technologies, Inc. filed a Form 6-K on September 4, 2024, reporting on its activities for the month of September 2024. The filing references a Convertible Promissory Note Purchase Agreement entered into on January 3, 2023, with Freight Opportunity.
Why It Matters
This filing provides an update on the company's financial instruments and ongoing agreements, which could impact its capital structure and future operations.
Risk Assessment
Risk Level: medium — The mention of convertible notes suggests potential future dilution for existing shareholders.
Key Players & Entities
- Freight Technologies, Inc. (company) — Registrant
- Javier Selgas (person) — Chief Executive Officer
- Freight Opportunity (company) — Counterparty to note purchase agreement
- January 3, 2023 (date) — Date of Convertible Promissory Note Purchase Agreement
- September 4, 2024 (date) — Filing date
FAQ
What is the principal amount or terms of the Convertible Promissory Note Purchase Agreement dated January 3, 2023?
The provided excerpt does not specify the principal amount or detailed terms of the January 2023 Purchase Agreement, only that it was entered into with Freight Opportunity.
Has Freight Technologies, Inc. filed its annual report on Form 20-F or 40-F?
The filing indicates that the registrant files annual reports under cover of Form 20-F.
What is the primary business of Freight Technologies, Inc. according to the filing?
The filing lists the Standard Industrial Classification as SERVICES-MANAGEMENT CONSULTING SERVICES [8742].
What was Freight Technologies, Inc. formerly known as?
Freight Technologies, Inc. was formerly known as Hudson Capital Inc. and China Internet Nationwide Financial Services, Inc.
Where is Freight Technologies, Inc. headquartered?
The company's principal executive office is located at 2001 Timberloch Place, Suite 500, The Woodlands, TX 77380.
Filing Stats: 501 words · 2 min read · ~2 pages · Grade level 14.3 · Accepted 2024-09-04 09:00:24
Key Financial Figures
- $6,593,407 — the original principal amount of up to $6,593,407 (the “Convertible Note”); (
- $750,000 — te, in the original principal amount of $750,000 (the “April Term Note”), an
- $125,000 — te, in the original principal amount of $125,000 (the “June Term Note” and t
- $1,314,903.50 — o Holder under the Outstanding Notes is $1,314,903.50 (the “Loan Amount”). The
Filing Documents
- form6-k.htm (6-K) — 22KB
- ex10-1.htm (EX-10.1) — 25KB
- ex99-1.htm (EX-99.1) — 14KB
- 0001493152-24-034930.txt ( ) — 63KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: September 4, 2024 FREIGHT TECHNOLOGIES, INC. By: /s/ Javier Selgas Name: Javier Selgas Title: Chief Financial Officer