GridAI lends $1.5 million more to Pronghorn; secured note principal rises to $5 million
GridAI Technologies disclosed that on October 22, 2026, it advanced an additional $1.5 million to Pronghorn Resources, LLC, and Pronghorn issued a Third Amended and Restated Secured Convertible Note in the principal amount of $5 million. The note matures on the earlier of December 31, 2026 or a Change of Control Transaction, and the company may convert part of the balance into a 10% stake in Pronghorn's membership interests after a payment Event of Default.
Key points
- October 22, 2026: fourth advance of $1.5 million to Pronghorn Resources, LLC
- Third A&R Note principal of $5,000,000, maturing on the earlier of December 31, 2026 or a Change of Control Transaction
- Interest of 7% per year, payable in cash, accrues after maturity; upon a payment Event of Default, the company may convert into 10% of Pronghorn's fully diluted capitalization
- Note is secured by Pronghorn's assets under the Security Agreement, as amended by the Third Amendment dated October 22, 2026
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.