One World Pharma Inc (OTCMKTS:OWPC) Stock Continues to Move Down After The News
One World Pharma Inc (OTCMKTS:OWPC) stock was in focus as the stock ended lower on Thursday. The stock has fallen 18% over the past week.
Market Action
In the previous trading session, OWPC fell 3.3% to $0.1146. A total of 16K shares traded for the session hands, well above its average volume of 93k shares. The stock opened at $0.1104 and moved in a range of $0.1050 – 0.1199.
Key Trigger
ONE WORLD PHARMA, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)
One World Pharma completed the sale to AJB Capital Investments LLC (the “Investor”) of (i) a Promissory Note in the principal amount of $750,000 (the “Note”), (ii) a three-year warrant to purchase 1,500,000 shares of the Company’s common stock at an initial exercise price of $0.25 per share (“Warrant A”), and (iii) a three-year warrant to purchase 2,000,000 shares of the Company’s common stock at an initial exercise price of $0.50 per share (“Warrant B”), for an aggregate purchase price of $705,000, pursuant to a Securities Purchase Agreement between the Company and the Investor dated as of September 24, 2021 (the “Purchase Agreement”). The transaction was effected pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506(b) promulgated thereunder.
The Note matures on September 24, 2022 (the “Maturity Date”), bears interest at a rate of 8% per annum, and, following an event of default only, is convertible into shares of the Company’s common stock at a conversion price equal to the lesser of 90% of the lowest trading price during (i) the 20 trading day period preceding the issuance date of the Note, or (ii) the 20 trading day period preceding date of conversion of the Note. The Note is also subject to covenants, events of defaults, penalties, default interest and other terms and conditions customary in transactions of this nature.
Trader Notes:
OWPC stock is looking weak as it is trading below all the key moving averages with 50-day and 200-Day SMA stand at $0.1714 and $0.2264 respectively. The stock has lost 19% over the past month and 57% over the past 6-month. The RSI stood at 42.
