KIDZ AI Amends Note Purchase Pact and Sells $600,000 Additional Convertible Notes
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KIDZ AI amended its $500 million senior secured convertible notes agreement and completed an additional closing for $600,000 in new notes. The amendment establishes a control account for future proceeds until an Available Cash Test is met, with remaining funds allocated to working capital and AI capital expenditures. The new notes carry a 7% interest rate, mature in two years, convert at 120% of the prior day's close, and are secured by first-priority liens on company assets.
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