Our Bond, Inc. filed a Form 8-K on November 3, 2026, reporting events dated November 2, 2026, including the conversion of senior secured debt and outstanding preferred stock into an Amended and Restated Series G Convertible Preferred Stock, accompanied by warrant retirements and a new leak-out agreement with three counterparties.

Key Highlights

  • Eastward debt conversion: Outstanding loan obligations of $7,878,149.32 owed to Eastward Fund Management LLC were converted into 787,815 shares of Series G Preferred Stock, and all outstanding Series B-1 Warrants held by Eastward were retired.
  • Maxim fee conversion: Outstanding fees of $803,940.82 owed to Maxim Group LLC were converted into shares of Series G Preferred Stock under a separate Securities Purchase and Conversion Agreement.
  • Ascent exchange: The company issued 577,948 shares of Series G Preferred Stock to Ascent Partners Fund LLC in exchange for 52,500 shares of Series C Convertible Preferred Stock and 525,451 shares of Series D Convertible Preferred Stock, leaving no Series C or Series D shares outstanding.
  • Warrant retirements: Ascent's warrants to purchase up to 382,871 total shares of common stock were retired under a concurrent Side Letter Agreement, which also included a waiver of accrued and unpaid dividends on the former Series C and Series D preferred stock.
  • Series G terms: Each share carries a stated value of $10.00, accrues dividends at 10% per annum (rising to 24% upon a triggering event), and is convertible to common stock at $2.0265 per share, subject to a 9.99% beneficial ownership cap.
  • Registration deadline: The company is required to file a registration statement for the re-sale of common stock issuable upon conversion of Series G Preferred Stock within ten (10) days of closing for each of Eastward, Maxim, and Ascent.

Our Bond Restructures Capital Stack Through Debt-to-Equity Conversions and Preferred Stock Exchange

According to the filing, Our Bond, Inc. (NASDAQ:OBAI) entered into multiple agreements on November 2, 2026, centered on replacing existing debt and preferred equity obligations with shares of a newly restated Series G Convertible Preferred Stock. The company's board of directors and the sole holder of the Series G Preferred Stock approved the Amended and Restated Certificate of Designation for the Series G Preferred Stock, which governs the terms of all newly issued shares.

Under the Eastward Conversion Agreement, the company disclosed that all outstanding obligations under its Loan and Security Agreement with Eastward Fund Management LLC, totaling $7,878,149.32, were converted into 787,815 shares of Series G Preferred Stock. Separately, under the Maxim Conversion Agreement, $803,940.82 in outstanding fees owed to Maxim Group LLC were also converted into Series G Preferred Stock. The filing states that pursuant to registration rights under both agreements, the company is required to file a resale registration statement within ten days of closing. Under the Ascent Exchange Agreement, the company issued 577,948 shares of Series G Preferred Stock in exchange for all remaining Series C and Series D preferred shares held by Ascent Partners Fund LLC. A Side Letter Agreement with Ascent provided for the waiver of accrued and unpaid dividends on those former preferred shares and the retirement of warrants covering up to 382,871 shares of common stock.

The Restated Series G COD, the filing disclosed, includes anti-dilution protections: if the company issues new securities at a price below the $2.0265 conversion price, the conversion price is readjusted downward. The company is also restricted from amending its articles of incorporation or bylaws in ways that would impair the terms of the Series G designation. A Leak-out Agreement entered into by the company with all three counterparties sets limits on how much common stock those holders may sell on any given trading day, with the leak-out percentages subject to increase under specific volume and price conditions described in the filing, including a minimum dollar volume of $500,000 and at least one publicly reported sale at or above $2.0265 per share on the applicable trading day.

What Was Disclosed

Our Bond, Inc. disclosed the adoption of an Amended and Restated Series G Preferred Stock designation, three conversion or exchange agreements dated November 2, 2026, the retirement of warrants held by Eastward and Ascent, and a leak-out agreement restricting resale activity by all three counterparties.