Common Contracts
1 similar Material Definitive Agreement contracts
Item 1.01 Entry into a Material Definitive AgreementMaterial Definitive Agreement • January 10th, 2019
On January 7, 2019, the Progressive Care, Inc. (the “Company”) entered into that certain Securities Purchase Agreement (the “Purchase Agreement”) with Chicago Venture Partners, L.P. (the “Investor”), whereby the Investor purchased from the Company, and the Company issued to the Investor for a purchase price in the amount of $2,510,000 that certain 9% Secured Convertible Promissory Note (the “Note”) in the aggregate principal amount of $2,710,000, including an 8% original issuance discount and $10,000 for attorneys’ fees. The purchase price is to be delivered in seven (7) tranches: the first tranche is a cash payment of $1,000,000, delivered on January 7, 2019, and the other six (6) tranches are to be delivered in the form of $250,000 promissory notes, in the form of six (6) investor notes (the “Investor Notes”), each in the principal amount of
