Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
On May 16, 2023, Yale Transaction Finders, Inc., a Delaware corporation (the
"Company"), issued convertible promissory notes (the "May 2023 Notes") in the
principal amount of $15,000 to (i) Ironbound Partners Fund, LLC, an affiliate of
the Company's Chief Executive Officer, (ii) Moyo Partners, LLC, an affiliate of
the Company's President and Treasurer, (iii) Dakota Group, LLC and (iv) Rise
Capital Corp. The May 2023 Notes have a maturity date of June 30, 2024 and bear
interest at the rate of 5.0% per annum, payable at maturity. The principal and
accrued interest on the May 2023 Notes are convertible, at the election of the
holders, into shares of the Company's common stock following the consummation of
a "Qualified Financing" (as defined in the May 2023 Notes), or upon the
consummation of a "Fundamental Transaction" (as defined in the May 2023 Notes)
at the "Conversion Price" (as defined in the May 2023 Notes). The proceeds of
the May 2023 Notes have been and will be utilized by the Company to fund working
capital needs.
The foregoing description of the May 2023 Notes is qualified in its entirety by
the full text of the May 2023 Notes, a form of which is filed as Exhibit 4.1
hereto and incorporated by reference herein.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits:
Exhibit Number Description
4.1 Form of promissory note
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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