Our Bond, Inc. Announces Significant Amendments to Equity Line and Preferred Stock Terms

Key Developments That Could Impact Shareholder Value

Our Bond, Inc. (NASDAQ: OBAI) has filed a Form 8-K disclosing material amendments to its funding arrangements with Ascent Partners Fund LLC, as well as changes to the terms of its Series C and Series D Preferred Stock. These changes could have a direct impact on the company’s funding flexibility, dilution potential, and the trading dynamics of its shares.

1. Amendment No. 3 to Securities Purchase Agreement (“Equity Line Amendment”)

• Amendment Date: May 4, 2026.
• Counterparty: Ascent Partners Fund LLC.
• Original Agreement: Securities Purchase Agreement dated October 27, 2025.
• Key Changes:
  • Maximum Aggregate Purchase Price Reduced: The total maximum aggregate purchase price under the Equity Line SPA was reduced from \$300 million to \$50 million. This is a major change in available capital for the company and may affect its future growth and funding plans.
  • Conditions for “Expanded Closings”: For so-called Expanded Closings (up to \$5 million per closing), the company can only deliver an advance notice if:
    • The bid price for OBAI common stock is at least 15% higher than the previous day’s closing price, and
    • The trading volume exceeds 150% of the average daily trading volume over the prior 10 trading days.
    • However, if the average daily traded value for the prior 10 trading days (excluding the highest day) exceeds \$4 million, the volume condition is waived.

    These provisions create stricter requirements for the company to access larger tranches of capital, which could affect liquidity and operational flexibility.

2. Amendments to Series C and Series D Preferred Stock

• Conversion Price Adjustment (Series D): The conversion price for Series D Preferred Stock was reset to \$2.0265 per share. This adjustment may affect the dilution profile for existing common shareholders and could impact the conversion decisions of preferred holders.
• New “Leak-Out” Provision (Series C & D):
  • A restrictive “leak-out” provision was added to both Series C and Series D Preferred Stock. Collectively, all holders of these preferred shares cannot sell more than 10% of the total daily trading volume of OBAI’s common stock on any given trading day.
  • This limit is lifted for sales at a price at or above 115% of the prior day’s closing price.
  • This provision is intended to prevent large, sudden conversions of preferred stock flooding the market, which can depress share prices. The exception for higher-priced sales may allow for more flexibility if the stock rallies.

3. Other Noteworthy Details

• Emerging Growth Company: The filing affirms that Our Bond, Inc. is an emerging growth company under applicable SEC rules.
• Nasdaq Listing: The company’s common stock continues to be listed on The Nasdaq Stock Market under the trading symbol OBAI.
• Exhibits Filed:
  • Amendment No. 3 to Securities Purchase Agreement
  • Amendment to Warrants to Purchase Common Stock
  • Promissory Note due September 1, 2026

What Shareholders Need to Know

• Reduced Capital Access: The dramatic reduction in the maximum funding available under the Equity Line (from \$300 million to \$50 million) could constrain the company’s ability to fund operations, investments, or acquisitions. This is a potentially material change that investors should consider.
• Potential Dilution and Trading Dynamics: The new leak-out provisions are designed to reduce the risk of a “dump” of converted preferred shares onto the market, which is generally positive for common stockholders seeking price stability. However, the adjusted conversion price for Series D Preferred could still lead to dilution if the stock trades above \$2.0265.
• Price Sensitive Triggers: The ability to access funding and the restrictions on preferred share sales now depend directly on share price and trading volume. Any significant movement in OBAI’s share price or volume could impact the company’s funding and dilution scenarios.

Conclusion

These amendments significantly alter both the capital structure and funding options for Our Bond, Inc. Investors should closely monitor the company’s liquidity position, the trading price of OBAI shares, and any conversions or sales of preferred stock, as these factors could materially impact the company’s valuation and share performance in the near term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with their financial advisors before making any investment decisions. The information herein is based on filings and disclosures by Our Bond, Inc. as of May 2026 and may be subject to change.

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