Vinco Ventures Inc (BBIG)

[eyeownu]

anyone dissect this 8k it looks like they raised money for Cryptyde, Inc. by amending their original july notes thru paying off 33MM and increasing interest on their note from 0 to 6% lol.

looks like cryptyde (TYDE) is waiting for its form 10 to be approved by the NASDAQ and they used this same institutional holder to secure 42MM in financing....

On March 9, 2022, the Company, Cryptyde, Inc. and the Holder entered into an Amendment Agreement (the “Amendment Agreement”) whereby the parties agreed to, among other things: (i) amend certain provision of the July Note to (a) convert $10,000.00 of the principal amount of the July Note at a conversion price of $0.01 into shares of Common Stock, (b) extend the Maturity Date under the July Note to July 22, 2023, (c) increase the interest rate on the July Note from zero percent (0%) to six percent (6.0%), (d) reduce the maximum cap of the Minimum Cash in the Control Account from $100,000,000 to $80,000,000, and (e) require the Company to redeem $33,000,000 of the Principal of the July Note, together with accrued and unpaid Interest and accrued and unpaid Late Charges on such Principal and Interest, on July, 22, 2022; (ii) to extend certain dates relating to the (x) Company’s registration of certain securities under the Warrant Exercise Agreements to April 30, 2022, (y) Company’s filing of a proxy statement to April 30, 2022 and (z) Company holding a stockholder meeting and obtaining a stockholder vote to June 4, 2022 or July 4, 2022 in the event that the Company receives comments from the Securities and Exchange Commission with respect to the proxy statement; and (iii) to waive any adjustments to convertible securities or options as a result of the Adjusted Conversion Price (as defined in the Amendment Agreement).



what do you guys think about this move. maybe this "holder" knows something?