Monitor Pronghorn Resources' ability to repay or trigger conversion by the December 31, 2026 maturity date. No financial results or guidance were provided — this is a routine debt amendment with no immediate read-through for GRDX equity.
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Executive Summary
GridAI Technologies Corp. made a third loan of $536,000 to Pronghorn Resources, LLC, bringing the total aggregate principal under a secured convertible note to $3,500,000. The note matures on December 31, 2026, or upon a change of control, and is convertible into 10% of Pronghorn's fully diluted membership interests upon an event of default. This is a routine debt amendment with no financial results or material operational changes reported.
Key Financial Metrics
Key Facts
- GridAI Technologies Corp. made a third loan of $536,000 to Pronghorn Resources, LLC on October 1, 2026.
- Total aggregate principal under the Second Amended and Restated Secured Convertible Note is $3,500,000.
- The note matures on the earlier of December 31, 2026 or a change of control transaction.
- Interest accrues at 7% per annum from the maturity date.
- Upon an uncured event of default, the holder can convert the note into 10% of Pronghorn's fully diluted membership interests.
- The note is secured under a Security Agreement and ranks pari passu with other notes.
Financial Impact
GridAI has deployed an additional $536,000, bringing total exposure to $3,500,000 in a secured convertible note to Pronghorn Resources, LLC.
Risk Factors
- Pronghorn may default on the note, triggering conversion into equity and diluting GridAI's position.
- The $3,500,000 loan represents cash deployed with no stated revenue or operational update from Pronghorn.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-114342 |
| Document: tm2627109d1_8k.htm | 0001104659-26-114342 |
| Document: tm2627109d1_ex10-2.htm | 0001104659-26-114342 |
| Document: 0001104659-26-114342-index-headers.html | 0001104659-26-114342 |
| Document: 0001104659-26-114342-index.html | 0001104659-26-114342 |
| Document: 0001104659-26-114342.txt | 0001104659-26-114342 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $5.40 | awaiting T+1 | — | $5.50 (+1.85%) |
Oct 20, 2026 7d ago | EFFECT | $4.63 $4.90 | ▲ +5.83% | ▲ +5.31% | $5.50 (+18.79%) |
Oct 7, 2026 19d ago | 8-K | $4.80 $4.97 | ▲ +3.54% | ▲ +2.94% | $5.50 (+14.58%) |
Oct 6, 2026 20d ago | S-1/A | $4.12 $4.80 | ▼ −16.50% | ▼ −16.93% | $5.50 (−33.50%) |
Aug 24, 2026 9w ago | S-1/A | $3.65 $4.06 | ▼ −11.23% | ▼ −10.91% | $5.50 (−50.68%) |
Jul 31, 2026 12w ago | S-1/A | $2.91 $2.75 | ▲ +5.50% | ▲ +7.30% | $5.50 (−89.00%) |
Jul 23, 2026 13w ago | 8-K | $3.04 $3.15 | ▲ +3.62% | ▲ +3.60% | $5.50 (+80.92%) |
Jul 9, 2026 15w ago | S-1/A | $4.50 $4.07 | ▲ +9.56% | ▲ +8.79% | $5.50 (−22.22%) |
May 14, 2026 23w ago | 8-K | $3.87 $3.78 | ▲ +2.33% | ▲ +2.26% | $5.50 (−42.12%) |
Apr 24, 2026 26w ago | 8-K | $2.25 $2.24 | ▲ +0.44% | ▼ −0.04% | $5.50 (−144.44%) |
US Market Status
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