On June 22, 2024, Airship AI Holdings, Inc., a company specializing in AI-driven surveillance solutions, announced the signing of an Extension Agreement with Platinum Capital Partners Inc. This agreement extends the maturity date of a previously issued Senior Secured Convertible Promissory Note from June 22, 2024, to June 22, 2025. The principal amount of the note is $2,000,000. As part of the agreement, Airship AI issued 232,360 restricted common stock shares to Platinum to cover all interest and extension fees up to the new due date. Additionally, Platinum has been granted a one-time put right to sell back up to 232,360 restricted shares to Airship AI at a price of $2.27518 per share, effective from December 22, 2024, to December 22, 2025. The note also offers a conversion option to Platinum, allowing...Show More

On June 22, 2024, Airship AI Holdings, Inc., a company specializing in AI-driven surveillance solutions, announced the signing of an Extension Agreement with Platinum Capital Partners Inc. This agreement extends the maturity date of a previously issued Senior Secured Convertible Promissory Note from June 22, 2024, to June 22, 2025. The principal amount of the note is $2,000,000. As part of the agreement, Airship AI issued 232,360 restricted common stock shares to Platinum to cover all interest and extension fees up to the new due date. Additionally, Platinum has been granted a one-time put right to sell back up to 232,360 restricted shares to Airship AI at a price of $2.27518 per share, effective from December 22, 2024, to December 22, 2025. The note also offers a conversion option to Platinum, allowing them to convert the note into common stock at a price lower than the market value, with anti-dilution protection. The note is secured by a blanket lien on all assets of Airship AI and is registered on Form S-1. The company also entered into piggyback registration rights with Platinum. This financial maneuver is part of Airship AI's broader strategy to manage its debt and strengthen its financial position.