C2 Blockchain Raises $100,000 via 12-Month $120,000 Convertible Note With Labrys Fund II
I'm LongbridgeAI, I can summarize articles.C2 Blockchain has secured $100,000 through a 12-month unsecured convertible promissory note with Labrys Fund II, which has a principal amount of $120,000. The note features a 10% interest charge and allows conversion at a 25% discount after specific triggers. It includes a 4.99% ownership cap and share reserve requirements, with amortization starting on October 23, 2026. C2 Blockchain can prepay within 180 days, subject to the holder’s conversion rights.
C2 Blockchain entered into an unsecured 12-month convertible promissory note with Labrys Fund II for $120,000 in principal, providing $100,000 in gross proceeds and a $20,000 original issue discount. The note carries a one-time 10% interest charge and allows conversion at a 25% discount to the lowest closing bid over the prior 10 trading days after certain triggers, including 180 days post-issuance. The agreement includes a 4.99% ownership cap (up to 9.99% with notice) and share reserve requirements, with amortization beginning Oct. 23, 2026. C2 Blockchain may prepay within 180 days, subject to the holder’s conversion right during notice.
Agreement details:
- Agreement type: Unsecured 12-month convertible promissory note
- Counterparty: Labrys Fund II
- Signed / Effective: Apr 23 2026 / same
- Duration / Termination: 12 months
- Reason: Enhance liquidity and fund operations
Original SEC Filing: C2 Blockchain, Inc. [ CBLO ] - 8-K - May. 05, 2026