HyOrc Corp [HYOR] - equity issuance
HyOrc Corp issued Notes with a purchase price of $32,500, including a $2,600 discount, and a twelve percent interest charge, while also entering into an Equity Purchase Agreement with Lambda to purchase up to $7,500,000 of shares.
Why this matters
HyOrc Corp, a Wyoming-based company in the engineering services sector, has issued Notes with a purchase price of $32,500, including a $2,600 discount, and a twelve percent interest charge. In addition to this, HyOrc Corp has entered into an Equity Purchase Agreement with Lambda, allowing Lambda to purchase up to $7,500,000 of HyOrc's common stock. As part of the agreement, HyOrc Corp will issue Lambda 750,000 shares, and the company retains the right to direct Lambda to purchase shares through a Put Notice, with each Put subject to specific minimum and maximum amounts. This strategic move appears to be aimed at raising capital, although no explicit rationale was provided in the filings.