Watch for NMAD's next financing — the mandatory 25% prepayment clause means any new raise will be partially diverted to Streeterville. Monitor for any Nasdaq delisting protocol entry (a trigger event) or stock price below $2.00 for 30 days — both trigger monitoring fee forgiveness conditions.
Price Chart
Executive Summary
Nomad Power Solutions issued a $6.57M secured promissory note to Streeterville Capital for $6.0M net proceeds (8.7% OID + fees), maturing in 12 months at 9% interest. The note is secured by all company assets and guaranteed by three subsidiaries. Streeterville can redeem up to $800K/month starting at month 6, and the company must prepay 25% of any future financing proceeds. The restrictive covenants effectively block most future debt and variable-rate equity issuances without Streeterville's consent.
Key Financial Metrics
Key Facts
- Issued $6.57M secured promissory note to Streeterville Capital for $6.0M net proceeds ($540K OID + $30K fees)
- 12-month maturity, 9% annual interest, secured by all company assets and guaranteed by three subsidiaries
- Lender can redeem up to $800K/month starting month 6; company must prepay 25% of any future financing proceeds
- Restrictive covenants block most future debt and variable-rate equity without lender consent
- Trigger events include Nasdaq delisting protocol, missed payments, bankruptcy; default triggers 22% default interest
- Monitoring fee of ~17.6% added at day 150 if note still outstanding
Financial Impact
$6.0M gross proceeds received; $6.57M principal due in 12 months at 9% interest; 8.7% effective cost of capital before monitoring fee
Risk Factors
- High-cost debt with 8.7% OID and potential 17.6% monitoring fee at day 150
- Lender can demand up to $800K/month in cash redemptions starting month 6, creating liquidity pressure
- Restrictive covenants severely limit future financing flexibility
- Trigger events include Nasdaq delisting protocol — if entered, note can accelerate at 15% penalty
- Mandatory prepayment clause diverts 25% of any future financing proceeds to Streeterville
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-045104 |
| Exhibit: ex10-2.htm | 0001493152-26-045104 |
| Exhibit: ex10-3.htm | 0001493152-26-045104 |
| Exhibit: ex4-1.htm | 0001493152-26-045104 |
| Document: form8-k.htm | 0001493152-26-045104 |
| Document: 0001493152-26-045104-index-headers.html | 0001493152-26-045104 |
| Document: 0001493152-26-045104-index.html | 0001493152-26-045104 |
| Document: 0001493152-26-045104.txt | 0001493152-26-045104 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | 8-K | $4.35 $4.28 | ▼ −1.61% | ▼ −1.47% | $3.94 (−9.43%) |
Sep 30, 2026 27d ago | 8-K | $3.86 $4.27 | ▼ −10.62% | ▼ −9.32% | $3.94 (−2.07%) |
Aug 14, 2026 10w ago | Press Release | $4.05 $4.30 | ▲ +6.17% | ▲ +7.54% | $3.94 (−2.72%) |
Jul 31, 2026 12w ago | 8-K | $4.48 $3.60 | ▼ −19.64% | ▼ −23.15% | $3.94 (−12.05%) |
Jul 10, 2026 15w ago | 8-K | $6.26 $5.39 | ▼ −13.83% | ▼ −13.27% | $3.94 (−37.01%) |
US Market Status
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