Eva Live pledges all assets to secure a $2.16M convertible note from Streeterville Capital
GOAI sits 47% above its 52-week low of $1.323.
Summary
Eva Live raised $2.0 million through a secured convertible note with Streeterville Capital, featuring a variable conversion price at a steep discount to market and a blanket lien on all assets. The deal includes an option for an additional $1.25 million note and registers up to 4.58 million shares for potential conversion.
Key Events · Financing and Capital Events · GOAI
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$2.16M Convertible Note Issued
Eva Live entered into a securities purchase agreement with Streeterville Capital, LLC for a $2.16 million secured convertible note, receiving $2.0 million in gross proceeds after an 8% original issue discount.
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Deeply Discounted Conversion Terms
The note converts at 87% of the lowest daily VWAP over the prior 10 trading days, with a floor of $0.472 — a potential 76% discount to the current $1.95 stock price, enabling highly dilutive conversions.
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Blanket Security Interest on All Assets
The note is secured by a first-priority lien on substantially all company assets, including equity interests in subsidiaries, customer accounts, equipment, and intellectual property, putting existing shareholders at risk of losing collateral in a default.
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Additional $1.25M Note Option
Streeterville has a 24-month right to purchase an additional $1.25 million note on identical terms, potentially doubling the dilutive impact and further encumbering assets.
Analysis · GOAI · Technology
To secure near-term liquidity, Eva Live entered into a $2.16 million secured convertible note with Streeterville Capital, yielding $2.0 million in gross proceeds. The note carries an 8% original issue discount and 8% interest, maturing in 24 months. Conversion is set at 87% of the lowest daily VWAP over the prior 10 trading days, with a floor of $0.472 — a deep discount to the current $1.95 stock price. Substantially all company assets back the note, including equity interests in subsidiaries, customer accounts, and equipment. Streeterville also holds a 24-month option to purchase an additional $1.25 million note on identical terms. The company registered up to 4,576,272 shares for conversion via a prospectus supplement to its existing S-3 shelf. While this financing provides immediate cash, the highly dilutive conversion mechanics and blanket lien on assets raise significant risk for existing shareholders.
At the time of this filing, GOAI was trading at $1.95 on NASDAQ in the Technology sector, with a market capitalization of approximately $72M. The 52-week trading range was $1.32 to $18.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.