Company: TGNT
Filing Date: 2025-04-22
Form Type: 8-K
Source: 0001477932-25-002877
Chunk: 0

Company: Totaligent, Inc.
Filing Date: 2025-04-22
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On April 21, 2025, Totaligent, Inc. (the “ Company”) entered into a Limitation of Conversion Agreement (the “ Agreement”) with Karolus Maximus Kapital, Inc. (the “ Investor”). The Agreement relates to approximately twenty (20) convertible promissory notes (the “ Convertible Notes”) previously issued by the Company to the Investor, a majority of which are past their stated maturity dates and remain outstanding.

Pursuant to the Agreement, the Investor is prohibited from converting any portion of the Convertible Notes into shares of the Company’s common stock if such conversion would result in the Investor (together with its affiliates) beneficially owning more than 4.99% of the Company’s then outstanding common stock, as calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Rule 13d-3 thereunder. This limitation may not be waived or modified except by written agreement of both parties and only if such waiver is effective at least 61 days after written notice is provided by the Investor to the Company.

The Agreement does not otherwise amend or modify the terms of the Convertible Notes. The purpose of the Agreement is to limit the Investor’s potential equity ownership to avoid triggering certain regulatory and disclosure thresholds and to protect the Company’s shareholder structure.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.