Eva Live to Issue 8.38M Shares from $7M Convertible Note, Addressing Going Concern with Significant Dilution

summarizeSummary

Eva Live Inc. filed a prospectus supplement for the potential issuance of up to 8.38 million shares of common stock upon conversion of a $7.56 million secured convertible note, from which the company received $7 million in gross proceeds.

check_boxKey Events

• Capital Raise Details

  Eva Live Inc. received $7 million in gross proceeds from a secured convertible note with a principal amount of $7.56 million, entered into on February 23, 2026, with Streeterville Capital, LLC.

• Potential Share Issuance

  The company is registering up to 8,381,375 shares of common stock issuable upon conversion of this note, under the S-3 shelf registration filed on March 18, 2026.

• Significant Dilution

  This potential issuance represents approximately 26.74% dilution to existing shareholders, based on 31,342,285 shares outstanding as of December 31, 2025.

• Discounted Conversion Price

  The assumed conversion price is $3.069 per share, which is 87% of the lowest daily VWAP for the ten trading days prior to the measurement date, indicating a discount to market.

auto_awesomeAnalysis

This 424B5 filing details a significant financing event for Eva Live Inc., following its recent S-3 shelf registration. The company has secured $7 million in gross proceeds through a secured convertible note, which is a critical step given the "going concern" warning in its latest 10-K. While this capital infusion is essential for extending the company's operational runway, it comes at a substantial cost to existing shareholders. The potential issuance of over 8.38 million shares upon conversion of the note represents approximately 26.74% dilution, and the conversion price is set at a discount to the market. Investors should weigh the immediate benefit of improved liquidity and reduced bankruptcy risk against the significant dilutive impact on their ownership.