FOMO Corp. announced that it has entered into agreements with returning investor GS Capital Partners LLC for a private placement of 10% Convertible Debenture of the principal amount of $115,000 issued at original issue discount of $10,000 for gross proceeds of $105,000 on April 5, 2022. The debt bear a coupon rate of 10% per annum from issuance, will mature on April 5, 2023, has prepayment options for early redemption by the Company, and is convertible into common stock after six months at a conversion rate of a 40% discount to market prices during the 20 business days prior to and including the conversion date, subject to adjustment for mergers, stock splits, stock dividends and other recapitalization events.

The debt is convertible into a fixed conversion price of $0.001. The company also issued a warrant to purchase 55,000,000 shares with an exercise price of $0.0012 and a three-year expiration. The company received net proceeds of $100,000 after deducting issuance expenses (legal fees) of $5000.