Piermont Valley Acquisition Corp Form 8-K — Oct 2, 2026
Piermont Valley Acquisition Corp entered a $5.0 million PIPE Securities Purchase Agreement on September 30, 2026 with Tigerless AI Holdings Inc., Tigerless Health, Inc. and Capstan Point, LLC, in connection with its pending business combination dated April 17, 2026. Pubco will sell 5,000 shares of Series A Convertible Preferred Stock at $1,000 per share, funded in a $3.5 million first tranche and a binding $1.5 million second tranche after Closing.
Key figures
- Gross Proceeds
- 5000000
- Tranche1
- $3.5 million (3,500 shares) first business day after Closing
- Tranche2
- $1.5 million (1,500 shares) ninetieth business day after Closing
- Floor reset
- resets lower to 20% of lower of prior close and 5-day average close
- Pipe shares
- 5,000 Series A Convertible Preferred at $1,000 stated value
- Default premium
- 15% one-time stated value increase
- Default dividend
- 5% annual
- Min shares at 10
- 550,000 Class A shares
- Closing fee shares
- 2000000
- Liquidated damages
- 5% of purchase price plus 5% per 30 days, interest at 18% per year
- Initial floor price
- $2.00
- Max shares at floor
- approximately 2,750,000 Class A shares
- Reserve requirement
- 200% of conversion shares at floor price
- Conversion price cap
- $10.00 or 93% of lowest 5-day VWAP
- Expense reimbursement
- $25,000
AI analysis
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