Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 111

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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ments of principal, interest or both from October 2022 through November 2028. At any time, upon ten (10) business days’ notice to the Company, the holders may request that a prepayment of the principal or all or part of a regularly scheduled quarterly payment of the principal be made in the form of common stock of the Company, with the number of shares of common 

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stock equal to the amount of the requested prepayment divided by the stock conversion price. If the request is made with respect to a regularly scheduled quarterly payment of principal, then the accrued interest shall be paid in cash. As of September 30, 2025, the holders of the Project Design Consultants, LLC convertible note had converted a total of $3.8 million of principal into 271,014 shares of common stock at $14.00 per share. The remaining balance of the note, consisting of $0.2 million in principal, was settled in cash along with all the accrued interest, 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