Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 1011

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1011
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 of the lenders, the several individuals, financial institutions or entities from time to time party thereto
(collectively, the “Senior Lenders”) and the collateral agent for the Senior Lenders. Forever 8 additionally entered into
an Intercreditor Agreement (the “Intercreditor Agreement”) with the lenders party thereto and the collateral agent for such
lenders. As of the date of this filing, a total of $250,000 has been committed by the lender.

May
2023 Debt Exchange

On
May 30, 2023, the Borrower entered into a Debt Exchange Agreement (the “Debt Agreement”)
with two Lenders for funds advanced to the Borrower pursuant to secured promissory notes (the “Old Notes”), executed by the
Borrower in favor of the Lenders during 2021. Under the terms of the Debt Agreement, the Old Notes were exchanged for new Notes (“New
Notes”) as per the terms of the Loan and Security Agreement dated May 30, 2023. The principal of the New Notes issued under the
Debt Agreement is $1,650,000.

March
2023 Offering

On
March 15, 2023, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with
Hudson Bay Master Fund Ltd. (“Hudson Bay”) for the issuance and sale of a Senior Secured Convertible Note with an
initial principal amount of $5,555,000 (the “Hudson Note”) at a conversion price of $6.245 per share of the
Company’s common stock, and a warrant (the “Hudson Warrant”) to
purchase up to 889,512 shares of Common Stock with an initial exercise price of $6.245 per share of Common Stock (the “Private
Placement”). The purchase price of the Hudson Note and the Hudson Warrant is $5 million.

The entire
outstanding principal balance on the Hudson Note and any outstanding fees or interest was due and payable in full on January 15,
2024 (“Maturity Date”). The Hudson Note did not bear interest, provided, however, that the Hudson Note would bear
interest at 18% per annum upon the occurrence of an event of default. The Hudson Note was paid in full on February 26, 2024.
Additionally, the Company redeemed all of the Hudson Warrants for $660,000 on October 23, 2023. Palladium Capital Group,