Change Agents Corporation. — Form 8-K
Filed October 2, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 53/100
What the filing says
Change Agents Corporation issued convertible promissory notes totaling ~$324.8K principal ($290K funded) to two C/M Capital affiliates on September 30, 2026, bearing 7% interest, 9-month maturity, and 105% prepayment premium. Simultaneously issued 100,000 pre-funded warrants (exercise price $0.0001/share) pro rata. Lead investor C/M Capital Master Fund, LP funded $237.3K principal; WVP Emerging Manager Onshore Fund funded $52.7K principal. Notes carry extensive default triggers, 15% default interest rate, and 125% mandatory acceleration amount. Company granted roll-over rights on future financings and 'most favored nation' protections to investors.
Why this rating
Moderately significant for micro-cap: ~$290K funding is 5-6% of $5.5M market value—meaningful but not transformational. High debt burden, restrictive covenants, and broad default triggers create near-term refinancing risk.
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