Odyssey amends AOM note agreement, adds $500,000 note purchase due September 9, 2026
On September 8, 2026, Odyssey and American Ocean Minerals (AOM) amended their note purchase agreement, including a $500,000 initial note that AOM will buy on September 9, 2026. The amendment allows further advances beyond the previously stated maximums, caps each note category at $5.0 million unless AOM agrees otherwise, and expands permitted use of proceeds to expenses incurred through the merger. The notes are secured by substantially all of Odyssey's assets, so the added financing increases the claims ranked ahead of shareholders.
Key points
- Amendment dated September 8, 2026 provides for an additional $500,000 Initial Note purchased by AOM on September 9, 2026.
- Notes bear 8.0% annual interest, rising to 11.0% after an interest payment default, and are secured by substantially all of Odyssey's assets.
- Principal and accrued interest are due on the earlier of April 8, 2027, or the closing of the merger under the agreement dated April 8, 2026.
- AOM bought a $700,000 Pre-Closing Note on May 28, 2026; each note category is capped at $5.0 million unless AOM agrees in writing.
The filing
Written by AI on Nov 9, 2026, 8:51 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 September 14, 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.