Our Bond Revises Equity Line With Ascent, Cuts Max Commitment to $50 Million

Our Bond announced a series of financing actions with Ascent aimed at refining its capital access and structure. The company amended its equity line, lowering the maximum aggregate commitment to $50 million and tightening conditions for Expanded Closings of up to $5 million per tranche, while preserving access when liquidity is strong. It also restructured 9 million warrants with new exercise prices and cancelled roughly 16.29 million high-strike warrants to reduce overhang. Separately, Our Bond issued a $1 million, 10% promissory note due September 1, 2026, and agreed to amend preferred stock terms, including a $2.0265 Series D conversion price and a new leak-out to moderate selling pressure.Agreement 1: Our Bond Revises Equity Line With Ascent, Cuts Max Commitment to $50 MillionAgreement type: Amendment No. 3 to Equity Line Securities Purchase AgreementCounterparty: Ascent Partners FundSigned / Effective: May 04 2026 / May 04 2026Duration / Termination: At willReason: Align equity financing capacity with market conditionsAgreement 2: Our Bond Restructures 9 Million Warrants With Ascent; Cancels 16.29 Million High-Strike WarrantsAgreement type: Amendment to Common Stock Purchase WarrantsCounterparty: Ascent Partners FundSigned / Effective: May 04 2026 / May 04 2026Duration / Termination: Through Feb 27 2027 and Oct 27 2027Reason: Restructure warrant terms and reduce overhangAgreement 3: Our Bond Issues $1 Million 10% Promissory Note to Ascent, Due Sep 1, 2026Agreement type: Promissory NoteCounterparty: Ascent Partners FundSigned / Effective: May 04 2026 / May 04 2026Duration / Termination: Through Sep 01 2026Reason: Obtain near-term working capitalAgreement 4: Our Bond to Amend Series C/D Preferred Terms; Sets $2.0265 D Conversion, Adds Leak-OutAgreement type: Amendments to Certificates of Designation for Series C and Series D Preferred StockCounterparty: Holders of Series C and Series D Preferred StockSigned / Effective: May 03 2026 / May 03 2026Duration / Termination: At willReason: Manage dilution and market liquidity during conversionsOriginal SEC Filing: Our Bond, Inc. [ OBAI ] - 8-K - May. 04, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.