MKDWELL Tech Inc. Secures $1.85M Note from Streeterville Capital
Ticker: MKDWW · Form: 6-K · Filed: Dec 3, 2024 · CIK: 1991332
Sentiment: neutral
Topics: financing, debt, promissory-note
TL;DR
MKDWELL Tech Inc. just got an $1.85M unsecured note from Streeterville Capital, filed 12/3.
AI Summary
On November 26, 2024, MKDWELL Tech Inc. entered into a securities purchase agreement with Streeterville Capital, LLC. As part of this agreement, MKDWELL Tech Inc. issued an unsecured promissory note to Streeterville Capital, LLC for a principal amount of $1,851,000.
Why It Matters
This financing agreement provides MKDWELL Tech Inc. with capital, potentially impacting its operational capacity and future growth initiatives.
Risk Assessment
Risk Level: medium — The issuance of an unsecured promissory note can indicate potential financial strain or a need for immediate capital, which carries inherent risks.
Key Numbers
- $1.85M — Promissory Note Principal (Represents the amount borrowed by MKDWELL Tech Inc. from Streeterville Capital, LLC.)
Key Players & Entities
- MKDWELL Tech Inc. (company) — Issuer of the promissory note
- Streeterville Capital, LLC (company) — Investor and holder of the promissory note
- $1,851,000 (dollar_amount) — Principal amount of the unsecured promissory note
- November 26, 2024 (date) — Date of the securities purchase agreement and note issuance
FAQ
What is the interest rate and maturity date of the unsecured promissory note?
The filing does not specify the interest rate or maturity date of the unsecured promissory note.
What are the terms and conditions of the securities purchase agreement?
The filing mentions the entry into a securities purchase agreement but does not detail its specific terms and conditions beyond the issuance of the promissory note.
What is the intended use of the $1,851,000 raised by MKDWELL Tech Inc.?
The filing does not disclose the intended use of the funds from the promissory note.
Is Streeterville Capital, LLC a new or existing investor in MKDWELL Tech Inc.?
The filing does not provide information on whether Streeterville Capital, LLC is a new or existing investor.
What is the financial health of MKDWELL Tech Inc. that necessitated this unsecured note?
The filing does not provide details on MKDWELL Tech Inc.'s financial health or the specific reasons for issuing an unsecured note.
Filing Stats: 890 words · 4 min read · ~3 pages · Grade level 13.6 · Accepted 2024-12-03 17:00:25
Key Financial Figures
- $1,851,000 — er 26, 2024, in the principal amount of $1,851,000 (the “Note”), convertible i
- $0 — ertible into ordinary shares, par value $0.0001, of the Company (the “Ordina
- $1,700,000 — Shares”), for a purchase price of $1,700,000. As part of the consideration for enter
- $0.0001 — the Pre-Delivery Shares at the price of $0.0001 per share. Pursuant to the Purchase A
- $136,000 — includes an original issue discount of $136,000 along with $15,000 for the Investor&rsq
- $15,000 — l issue discount of $136,000 along with $15,000 for the Investor’s legal fees, ac
- $0.178 — w. The Note contains a floor price of $0.178 for the possible future conversions int
Filing Documents
- form6-k.htm (6-K) — 25KB
- ex10-1.htm (EX-10.1) — 172KB
- ex10-2.htm (EX-10.2) — 86KB
- 0001493152-24-048513.txt ( ) — 283KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MKDWELL Tech Inc. By: /s/ Ming-Chia Huang Name: Ming-Chia Huang Title: Chief Executive Officer and Director Date: December 3, 2024