Charles & Colvard Ltd. Announces New Convertible Secured Note Agreement with Ethara Capital LLC

Reuters06-28

Charles & Colvard Ltd. Announces New Convertible Secured Note Agreement with Ethara Capital LLC

Charles & Colvard Ltd. has announced a recent financial agreement, involving the issuance of a convertible secured note to Ethara Capital LLC for a total of $2.0 million. The agreement includes an initial tranche of $500,000, with a second tranche of $1.5 million expected by July 23, 2025. Interest on the note will accrue at an annual rate of 5%, with payments made either in cash or through an increase in the principal amount. The note allows for conversion into shares of the company's common stock, contingent on shareholder approval. The company has also agreed to enter into a registration rights agreement for the resale of these shares. Additionally, the agreement grants Ethara Capital the right to appoint two directors and two observers to Charles & Colvard's board.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Charles & Colvard Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-063622), on June 27, 2025, and is solely responsible for the information contained therein.

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