Mitesco, Inc. (MITI) Form 8-K — Jun 8, 2026
Mitesco, Inc. (MITI) closed a $225,000 bridge financing deal on June 3, 2026, issuing 10% OID convertible promissory notes to historical investors Monroe Street Capital, LLC and Pinz Special Opportunities Fund, LP. The notes carry a 10% interest rate, mature in 12 months, and are convertible into common stock at an initial price of $0.15 per share, subject to aggressive reset provisions including a 65% discount to the lowest trading price in the prior 10 days. The financing terms include severe penalties for the company, including a 150% default amount multiplier and 18% default interest, signaling high risk and potential liquidity constraints.
Key figures
- Debt Amount
- 225000
- Interest Rate
- 10%
- Maturity Date
- 12 months from issue date
- Offering Price
- 0.15
- Pinz Note Face
- 150000
- Eloc Fee Percent
- 2
- Authorized Shares
- 500000000
- Proposed ELOCSize
- 30000000
- Shares Outstanding
- 20244118
- Default Interest Rate
- 18%
- Monroe Street Note Face
- 75000
- Default Penalty Percent
- 150
- Beneficial Ownership Limit
- 4.99%
- Total Repayment Obligation
- 247500
AI analysis
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