AUTO PARTS 4LESS GROUP, INC. Auto Parts 4Less Group, Inc announced it has completed a private placement of convertible promissory notes for a gross proceeds of $35,200.08 on February 6, 2024. The company issued convertible notes at a principal amount of $39,111, representing an original issue discount of $3,911.12 (10%). The transaction included participation from new investor, CAVALRY FUND I, LP, a fund managed by Cavalry Fund I Management, LLC.
The Note carry interest rate of 12% and matures on October 31, 2024. The Note is convertible into shares of the Company?s common stock beginning on the date that is 180 days from the date of the Note, from time to time following an Event of Default, and ending on the date of payment of the Default Amount, at a conversion price of $.01 per share. The issuance is made in reliance to Regulation D.
