YOUNGEVITY INTERNATIONAL, INC. (OTCMKTS:YGYI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.Entry into a Material Definitive Agreement.
Between March 18, 2021 and March 22, 2021, Youngevity International, Inc. (the “Company”) entered into note amendments (the “6% Note Amendments”) with the holders of an aggregate of $1,000,000 in principal amount of those certain 6% secured convertible notes (the “6% Notes”), issued by the Company to such investors (the “Investors”) on February 15, 2019 and March 13, 2019. The 6% Note Amendments extend the maturity date of the 6% Notes held by the Investors by one year, to February 15, 2022 and March 15, 2022, as applicable, and increase the interest rate to 12%. In connection with the foregoing, as an inducement to enter into the 6% Note Amendments, the Company issued to the Investors an aggregate of 150,000 shares of its restricted common stock, par value $0.001 per share.
The foregoing description of the terms of the 6% Note and the 6% Note Amendments do not purport to be complete and is subject to, and is qualified in their entirety by, reference to the provisions of such agreements, the forms of which are filed as Exhibits 4.1 and 4.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information regarding the securities of the Company set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 3.02. Unregistered Sales of Equity Securities.
The information regarding the securities of the Company set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The Company issued the shares of common stock to the Investors in reliance on the exemption from registration provided for under Section 4(a)(2) of the Securities Act. The Company relied on this exemption from registration for private placements based in part on the representations made by the Investors with respect to their status as an accredited investor, as such term is defined in Rule 501(a) of the Securities Act.
Item 9.01Financial Statements and Exhibits.
The following exhibits are filed with this Current Report on Form 8-K:
Youngevity International, Inc. Exhibit
EX-4 2 ex4-2.htm FORM OF AMENDMENT TO 6% SECURED CONVERTIBLE NOTE ex4-2 EXHIBIT 4.2 AMENDMENT TO PROMISSORY NOTE This AMENDMENT,…
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About YOUNGEVITY INTERNATIONAL, INC. (OTCMKTS:YGYI)
Youngevity International, Inc. is an e-commerce company. The Company operates through two segments: the direct selling segment where products are offered through a global distribution network of customers and distributors, and the commercial coffee segment where products are sold directly to businesses. The Company offers over 2,500 products to support a healthy lifestyle. All of these products, which are sold through its direct selling network, are categorized into over 11 sub-product lines. In the direct selling segment, the Company sells health and wellness, beauty product and skin care, scrap booking and story booking items, and packaged food products on a global basis, and offers a range of products through an international direct selling network. The Company is engaged in the commercial sale of coffee through its subsidiary CLR Roasters, LLC (CLR) and its subsidiary. Its brands include Cafe La Rica, Javalution Daily Grind, Javalution Royal Roast, SOZO Global and Integris.
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