Mag Magna Corp (MGNC) Form 8-K — Jun 5, 2026
$MGNCForm 8-KItems 1.01, 2.03, 3.02, 5.02, 9.01Filed Jun 5, 2026, 6:00 AM ET0001683168-26-004573Original filing
Mag Magna Corp. entered into three separate Securities Purchase Agreements in April and May 2026 to raise capital through convertible notes. The company issued a $170,000 note to CFI Capital, a $170,000 note to Silvercrest Hybrid Capital, and a $123,333 note to GW Capital Investments, resulting in total net cash proceeds of approximately $417,000 for general working capital. The financing terms are aggressive, featuring interest rates of 6% for CFI Capital and 12% for Silvercrest and GW Capital, along with original issue discounts of 10% on all notes.
Key figures
- Cfi reserved shares
- 2083333
- Gw capital proceeds
- 111000
- Cfi capital proceeds
- 153000
- Silvercrest proceeds
- 153000
- Cfi capital principal
- 170000
- Silvercrest principal
- 170000
- Gw capital interest rate
- 12%
- Cfi capital interest rate
- 6%
- Silvercrest interest rate
- 12%
- Gw capital reserved shares
- 1447574
- Silvercrest reserved shares
- 2023810
- Gw capital commitment shares
- 20000
- Silvercrest commitment shares
- 30000
AI analysis
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