Research analysts covering WYTEC INTERNATIONAL.
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WYTEC INTERNATIONAL INC. Enters into Securities Purchase Agreement for Promissory Note
WYTC
Debt Issuance
Convertible Preferred Issuance
- WYTEC INTERNATIONAL INC. closed a Securities Purchase Agreement with 1800 Diagonal Lending LLC on October 15, 2025, for the sale of a promissory note.
- The note has a principal amount of $94,300 but was purchased for $82,000, reflecting a $12,300 original issue discount and an additional one-time 12% interest charge of $11,316.
- The note matures on August 15, 2026, with a total payback amount of $105,616 through five scheduled payments.
- In the event of default, the outstanding principal and accrued interest will be increased by 150% and accrue interest at 22% per annum, with the holder having the option to convert into common stock at a 35% discount to the lowest trading price.
Oct 21, 2025, 6:06 PM
Wytec International Issues Convertible Promissory Note
WYTC
Debt Issuance
Convertible Preferred Issuance
New Projects/Investments
- Wytec International, Inc. issued an unsecured promissory note with a principal amount of $180,550.00 to Labrys Fund II, L.P. on October 3, 2025, with the transaction closing on October 6, 2025.
- The note was purchased for $157,000.00, including an original issue discount of $23,550.00, and carries a one-time interest charge of 12% ($21,666.00).
- The note has a maturity date of October 3, 2026, with an amortization schedule requiring six monthly payments of $28,888 starting April 3, 2026, and the remaining balance due on the maturity date.
- In the event of default, the note will bear interest at 22% per annum and is convertible into common stock at a conversion price equal to 65% of the lowest trading price during the 20 trading days prior to conversion, subject to a 4.99% ownership cap for Labrys and its affiliates.
Oct 9, 2025, 6:54 PM
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