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← New Era Energy & Digital
Mon, Apr 6, 2026

New Era issues $5 million convertible note to 5% shareholder

Source document ↗

Key points

  • Issued a $5,000,000 promissory note on March 31, 2026 to Zachary Yi Zhou, a shareholder beneficially owning more than 5% of common stock
  • Note amended and restated on April 6, 2026, bearing interest at 5.00% per annum payable at maturity
  • Matures at the earliest of September 30, 2026, initial funding of the TCDC Project Credit Facility, closing of a Qualified Equity Financing, or acceleration
  • Converts to common stock at maturity, priced at the Qualified Equity Financing price per share or otherwise the 30-trading-day average VWAP
  • Repayment subject to a 1.02x premium; prepayable in shares in whole or in part at any time