Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 31

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 resulting in the full repayment of the note with no remaining obligations. The holders of the H2H Geoscience Engineering, PLLC convertible note had converted a total of $1.2 million of principal into 67,708 shares of common stock at $18.00 per share, resulting in full settlement of the note.No additional elections or conversions had been made as of September 30, 2025.The following table summarizes the convertible notes as of September 30, 2025 (in thousands, except conversion price):Convertible Notes:Date IssuedPrincipal AmountInterest RateConversion PriceRemaining Balance1Project Design Consultants, LLC07/22$4,000 4.75%$14.00 $– Anchor Consultants, LLC08/22$1,100 5.50%$18.00 $613 H2H Geoscience Engineering, PLLC12/22$1,600 7.00%$18.00 $– Exeltech Consulting, Inc.11/24$2,200 5.00%$32.32 $1,787 UP Engineering, LLC02/25$1,200 5.00%$32.50 $1,200 e3i Engineers, INC07/25$1,800 5.00%$32.50 $1,800 1Includes discounts, and reflects the net remaining balance on convertible notes.

13. Related Party Transactions

Bowman Lansdowne Development, LLC (“BLD”) is an entity in which Mr. Bowman has an ownership interest. On each of September 30, 2025 and December 31, 2024, the Company’s notes receivable included $0.5 million from BLD, with a maturity date of December 31, 2027. Mr. Bowman has executed a Guaranty of Collection for the amount of the current unpaid principal balance.Lansdowne Development Group, LLC (“LDG”) is an entity in which BLD has a minority ownership interest. On September 30, 2025 and December 31, 2024, our notes receivable included $0.4 million and $0.4 million, respectively from LDG, with a maturity date of December 31, 2027. Mr. Bowman has executed a Guaranty of Collection for the amount of the current unpaid principal balance.Bowman Realty Investments 2010, LLC (“BR10”) is an entity in which