Helio Corporation exchanged $327,629 in promissory notes held by CTO Gregory T. Delory for 149,979 shares of common stock at $2.1845 per share under an Exchange Agreement dated April 22, 2026.
Key takeaways
Entered Exchange Agreement on April 22, 2026, cancelling $327,629 promissory notes (principal only, $0 interest) held by CTO Gregory T. Delory.
Issued 149,979 shares at conversion price of $2.1845, based on 20-day VWAP preceding the date.
Issued zero-interest, on-demand promissory note for $327,629 on April 22, 2026, representing past advances, immediately exchanged and cancelled.
Issued 149,979 restricted common shares to Delory on April 28, 2026, under Section 3(a)(9) exemption, no commissions paid.
Shares are unregistered 'restricted' and 'control' securities under Rule 144.