KNOREX LTD. (KNRX) Form 6-K — Oct 8, 2026
KNOREX Ltd. entered into an Exchange Agreement on October 2, 2026 with North Commerce Parkway Capital LP and TQ Master Fund LP, exchanging $3,150,000 in principal of existing senior unsecured notes for new convertible promissory notes totaling $3,363,411, with the increase reflecting $129,325 of capitalized interest and an 84,086 original issue discount adjustment. The Exchange Notes are convertible into Class A ordinary shares at a price equal to 80% of the lowest Daily VWAP over the prior five trading days, subject to a floor of 20% of the NYSE American minimum price, with a 4.99% beneficial ownership cap that can be raised to 9.99% with consent. They mature January 1, 2027.
Key figures
- Debt Amount
- 3363411
- Interest Rate
- rate applicable under existing Note Purchase Agreement as amended
- Maturity Date
- 2027-01-01
- Floor price
- 20% of NYSE American minimum price
- Mandatory prepayment
- 100% of gross cash proceeds from any debt, equity, equity-linked financing or asset disposition
- Beneficial ownership limit
- 4.99% (increasable to 9.99%)
- Capitalized accrued interest
- 129325
- Existing principal exchanged
- 3150000
- Original issue discount amount
- 84086
- Original issue discount percent
- 2.5%
- Conversion discount to daily vwap
- 20% (80% of lowest 5-day Daily VWAP)
AI analysis
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