Fast Track Group (FTRK) Form 6-K — Jul 10, 2026
Fast Track Group closed a convertible note financing for $1.5 million in gross proceeds with 3i, LP, issuing a senior note with a 10% original issue discount and a 6% annual interest rate. The transaction included warrants to purchase 821,705 ordinary shares at an exercise price of $0.5375, exercisable until July 8, 2031. Simultaneously, the company entered into a $20 million equity line of credit agreement with Tumim Stone Capital, allowing it to sell ordinary shares at its discretion over a 24-month term, subject to a 4.99% ownership limit per investor.
Key figures
- Debt Amount
- $1,666,666.67
- Interest Rate
- 6.0%
- Gross Proceeds
- $1,500,000
- Shares Offered
- 821,705
- Eloc commitment
- $20,000,000
- Conversion price
- $0.5375
- Note maturity months
- 12
- Warrant exercise price
- $0.5375
- Original issue discount
- 10.0%
AI analysis
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