Zapata Computing Holdings Inc. has announced the completion of a second closing under its Securities Purchase Agreement, initially dated June 12, 2025. The company has issued secured convertible promissory notes and warrants to purchase 4,375,000 shares of common stock, raising total gross proceeds of $350,000. This marks the achievement of their maximum offering amount of $3,000,000 under the agreement. The proceeds are to be used for working capital and general corporate purposes. The notes, maturing in one year and bearing a 10% annual interest, are convertible into common stock at $0.04 per share, with automatic conversion upon a $5 million securities offering. Additionally, the company has entered into Universal Resale and Registration Provisions to provide registration rights and lock-up agreements for recipients. The obligations are secured by the company's assets, as outlined in a Security Agreement and Intercreditor Agreement.
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. Zapata Computing Holdings Inc. 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: 0001079973-25-001107), on July 03, 2025, and is solely responsible for the information contained therein.
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