iQSTEL closes up to $3 million two-year secured, non-convertible notes for Ultranet deal
On October 20, 2026, iQSTEL issued senior secured, non-convertible promissory notes of up to $3 million in aggregate to M2B Funding Corp. and ADI Funding LLC, along with pre-funded warrants for 420,000 shares, to help fund its planned 51% acquisition of Ultranet Telecom Group. The notes carry 18% annual interest and are secured by a first-priority interest in company collateral, and the warrants could add dilution, so the financing adds debt cost and potential share issuance for shareholders while the acquisition itself is not yet signed.
Key points
- Up to $3 million in notes, split between two purchasers: first $750,000 per purchaser funded on or about October 20, 2026, and a second advance of up to $750,000 per purchaser due on or before December 1, 2026
- Notes bear 18% annual interest payable monthly in cash; principal repaid in four equal installments over 24 months
- Warrants for 420,000 shares at a $0.0001 exercise price were fully issued at the initial closing; holders may accelerate at 120% of funded principal after an uncured default
- Company expects to sign the Ultranet share purchase agreement in November 2026 and target closing in the middle of the first quarter of 2027
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 26, 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.