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Our Bond, Inc. (NASDAQ:OBAI) announced Monday that it has amended the terms of an outstanding warrant and issued a new promissory note, according to a statement based on a recent SEC filing.
On Sunday, the company entered into Amendment No. 1 to a warrant issued on October 27, 2025, which originally allowed for the purchase of up to 16,000,000 shares of common stock at an exercise price of $12.35 per share, expiring July 27, 2026. As of the date of the amendment, 15,991,902 shares remain purchasable under the warrant.
The amendment temporarily reduces the exercise price for a total of 12,000,000 shares of common stock under the warrant for a period of ninety days. The new exercise prices are as follows:
- 4,500,000 shares at $2.25 per share
- 3,750,000 shares at $2.75 per share
- 3,750,000 shares at $3.25 per share
After the ninety-day period, the exercise price for these shares will revert to the original $12.35 per share. All other terms and conditions of the warrant remain unchanged.The dramatic reduction in exercise prices reflects the company’s stock performance challenges. Shares currently trade at $2.06, down 94% year-to-date and near their 52-week low of $1.77. According to InvestingPro analysis, the stock has suffered significant declines across multiple timeframes, with the company maintaining a market capitalization of $28.55 million.
Also on Sunday, Our Bond issued a promissory note to Ascent Partners Fund, LLC in the principal amount of $2,500,000. The note bears interest at 10% per annum and matures on September 1, 2026. The company is required to apply 25% of the net proceeds from all future offerings or issuances of its securities toward payment of the note until it is fully paid.The financing comes as InvestingPro data shows the company is quickly burning through cash, with a current ratio of just 0.44 indicating short-term obligations exceed liquid assets. The company reported negative free cash flow of $7.63 million and remains unprofitable with earnings per share of -$3.59 over the last twelve months. In the event of default, the note will accrue interest at 24% per annum, and late payments will incur a 10% late fee on the overdue amount. Events of default include failure to pay principal or interest when due, breach of covenants, default on other indebtedness over $150,000, or a change in control of the company.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Our Bond, Inc. announced a significant commercial agreement valued at approximately $250,000 with one of the world’s five largest pharmaceutical companies. This phase 1 agreement covers 5,000 of the pharmaceutical company’s 100,000 employees across various functions and locations in the United States. The contract establishes a new annual recurring revenue stream for Our Bond, with the potential for expansion exceeding $1 million over time. Additionally, the pharmaceutical company involved has a market capitalization exceeding $300 billion, though its name remains undisclosed. In a related development, TG-17, Inc., the company behind an AI-powered preventative personal security platform, has officially changed its corporate name to Our Bond, Inc. This name change aims to create greater consistency across corporate, customer, and investor-facing communications as the company expands its sales and marketing initiatives. These recent developments highlight Our Bond’s strategic efforts to enhance its market presence and revenue streams.
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