INVESTVIEW INC. (OTCMKTS:INVU) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01—ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 28, 2020, Investview, Inc., and DBR Capital, LLC, completed the second closing under the Securities Purchase Agreement originally entered into between the parties on April 27, 2020. At the second closing, DBR Capital purchased a $700,000 convertible promissory note. The convertible promissory note is due on April 27, 2030, bears interest at the rate of 20% per year, and is convertible into Investview’s common stock at a conversion price of approximately $0.0126 per share.
DBR Capital is an affiliate of two of Investview’s directors, David B. Rothrock and James Bell. Mr. Rothrock and Mr. Bell were appointed to Investview’s board of directors in connection with Securities Purchase Agreement in April 2020.
ITEM 3.02—UNREGISTERED SALES OF EQUITY SECURITIES
See Item 1.01 above. The convertible promissory note was issued as the result of arm’s-length negotiations directly with DBR Capital in reliance on the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended, and SEC Rule 506(b) for transactions not involving any public offering. No advertising or general solicitation was employed in offering the securities to DBR Capital. No underwriter participated in the offer and sale of these securities, and no commission or other remuneration was paid or given directly or indirectly in connection therewith.
ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS
The following is filed as an exhibit to this report: