Our Bond, Inc. 8-K

What Happened Our Bond, Inc. announced on March 1, 2026 that it entered Amendment No. 1 to a Warrant issued October 27, 2025 and also issued a $2,500,000 promissory note to Ascent Partners Fund, LLC. The Amendment temporarily reduces the exercise price for a total of 12,000,000 shares purchasable under the Warrant for a 90‑day period; after 90 days the exercise price reverts to the original $12.35 per share. The Note bears interest at 10% per annum, matures September 1, 2026, and requires applying 25% of net proceeds from future securities offerings toward repayment until paid in full.

Key Details

• Warrant background: originally allowed purchase of up to 16,000,000 shares at $12.35; 15,991,902 shares remain available.
• Temporary exercise-price reductions (90 days) for 12,000,000 shares: 4,500,000 shares at $2.25, 3,750,000 shares at $2.75, and 3,750,000 shares at $3.25.
• Promissory Note: $2,500,000 principal, 10% annual interest, maturity September 1, 2026; default interest 24% and 10% late fee on late payments.
• Default events include failure to pay, breach of covenants, indebtedness defaults over $150,000, and a change in control.

Why It Matters

• Dilution and pricing impact: If holders exercise the Warrants at the reduced prices, the company could issue a substantial number of shares at prices far below the original $12.35, increasing outstanding shares and diluting existing shareholders.
• Near-term financing and obligations: The $2.5M note creates an additional debt obligation with repayment tied to future capital raises (25% of net proceeds), which may affect the company’s financing flexibility until the note is repaid.
• Investor focus: Watch for any exercises of the amended warrants during the 90‑day window and for how the company finances repayment or refinances the Note by the September 1, 2026 maturity.