Insight Acquisition Enters into Amendment with Alpha Modus Holdings, Inc.: Update on Financial Obligations

Insight Acquisition (OTCMKTS:INAQU) disclosed a significant update regarding an amendment between the company and Alpha Modus Holdings, Inc. In a recent SEC filing, it was revealed that on January 27, 2025, the two entities entered into an amendment to a note agreement.

The original agreement involved a securities purchase agreement (SPA) between Alpha Modus Holdings, Inc. (referred to as the “Company”) and Streeterville Capital, LLC (referred to as the “Investor”). This agreement detailed the sale of a secured convertible promissory note, with subsequent revisions occurring in December 2024 through an Amended SPA.

Under the Amended SPA terms, the Note was not convertible below a specified floor price; however, after the closing bid price of the Company’s common stock remained below this floor price for over ten consecutive trading days, changes were necessary. The Company was potentially required to make monthly payments under the Note starting March 16, 2025.

Upon the recent amendment, the Company agreed not to commence monthly payments under the Note until May 16, 2025. Additionally, the monthly payments were set at $485,000.00 plus accrued but unpaid interest, with the Company also committed to allocating 50% of proceeds from any equity line of credit or similar arrangement to the Investor promptly.

The details provided in the filing outline a significant shift in the financial obligations of Insight Acquisition and its dealings with Alpha Modus Holdings, Inc. This update signifies a notable adjustment to payment terms and responsibilities between the involved parties.

The complete text of the amendment is available in Exhibit 10.1 attached to the Current Report on Form 8-K.

This filing stands as an essential development shaping the financial landscape for Insight Acquisition and its agreements with key partners.

This press release may include certain forward-looking statements, reflecting current beliefs and assumptions while also acknowledging associated risks and uncertainties. Interested parties are advised to consider the details provided in the official filing to comprehend the full scope of this recent amendment and its potential implications.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Insight Acquisition’s 8K filing here.

Insight Acquisition Company Profile

Insight Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on business in the FinTech, wealth, asset, investment management, and insurance tech sectors.