Company: EQS
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001712543-25-000010
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Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On February 10, 2025, Equus Total Return, Inc.
(“ Equus” or the “ Fund”) entered into a material definitive Securities Purchase Agreement regarding the
issuance of a 1-year senior convertible promissory note bearing interest at the rate of 10.0% per annum in exchange for $2.0 million
in cash ( “ Equus Note”). The Equus Note is convertible into shares of the Fund’s common stock at a conversion
price of $1.50 per share. Contemporaneously with the issuance of the Equus Note, the Fund also issued two common stock purchase
warrants to acquire an aggregate of 2,000,000 shares of the Fund’s common stock at an exercise price of $1.50 per share
(collectively, the “ Warrants”).

Also on February 10, 2025, the Fund entered into a
material definitive Subscription Agreement with General Enterprise Ventures, Inc. (“ GEVI”) regarding the purchase of a 1-year
senior convertible promissory note bearing interest at the rate of 10% per annum, in exchange for $1.5 million in cash (“ GEVI Note”).
The GEVI Note is convertible into shares of GEVI’s common stock at a conversion price of $0.40 per share. Contemporaneously with
the purchase of the GEVI Note, the Fund also received a common stock purchase warrant to acquire an aggregate of 1,875,000 shares of GEVI
common stock at an exercise price of $0.50 per share.