Xos noteholder repaid $1.5M of convertible note
Xos, Inc. reported that major holder Aljomaih Automotive Co. had a scheduled repayment of $1.5 million principal on a Convertible Note, which was repaid and extinguished at face value.
Rhea-AI Filing Summary
Xos, Inc. reported that major holder Aljomaih Automotive Co. had a scheduled repayment of $1.5 million principal on a Convertible Note, which was repaid and extinguished at face value. That principal had been convertible into 20,993 shares of common stock at $71.451 per share.
Following this repayment, $18,500,000 principal amount of Convertible Notes remained outstanding, convertible into 258,919 shares of common stock at the same conversion price. Accrued interest continues to accrue at 10% per annum and may be paid in shares at a market-based 10-day VWAP, subject to limits that can trigger cash payment instead after certain dates or stockholder approval.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 1,500,000 shares
Other
1 txn
Insider
Aljomaih Automotive Co.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Convertible Note | 1,500,000 | $1,500,000.00 as filed | -- |
- Price shown as filed: $1,500,000.00 per share is far above the $2.41 close on Nov 11, 2025, so no transaction value is shown.
Holdings After Transaction:
Convertible Note — 258,919 contracts (Direct)
Footnotes (6)
- F1. Principal amounts of the Convertible Notes are convertible at the holder's election into shares of Common Stock at $71.451 per share. Accrued interest on the Convertible Note is payable by the issuer in shares of common stock at a conversion price equal to a market-based price (the "10-day VWAP," as defined in the Convertible Note) measured on the date of payment.
- F2. On November 11, 2025, the issuer made a scheduled repayment of $1.5 million principal amount of the Convertible Note.
- F3. The $1.5 million principal amount repaid was convertible into an aggregate of 20,993 shares of common stock, par value $0.0001 per share, of the issuer.
- F4. The principal amount plus any accrued and unpaid interest is convertible at the holder's election after November 9, 2022. However, under certain circumstances, the number of Interest Shares could be limited, in which case interest amounts payable in excess of such limit shall instead be payable within five business days of the earlier of (x) August 11, 2026 and (y) the date the Company receives stockholder approval to issue more than the limit in respect of conversion of the Convertible Note, as amended.
- F5. $1.5 million principal amount of the Convertible Note was repaid and extinguished for face value.
- F6. The $18,500,000 principal amount of Convertible Notes outstanding immediately following the transaction was convertible into 258,919 shares of Common Stock at $71.451 per share. Column 9 does not include any interest accrued on the Convertible Note since August 11, 2025 (at a rate of 10% per annum), which may be converted into Interest Shares at the 10-day VWAP on the date of payment, subject to certain restrictions (see Footnote 4).
Key Figures
Principal repaid: $1,500,000
Shares tied to repaid principal: 20,993 shares
Remaining principal outstanding: $18,500,000
+3 more
6 metrics
Principal repaid
$1,500,000
Scheduled repayment of Convertible Note principal on November 11, 2025
Shares tied to repaid principal
20,993 shares
Common stock previously issuable at $71.451 per share
Remaining principal outstanding
$18,500,000
Convertible Notes immediately following the transaction
Shares for remaining principal
258,919 shares
Common stock issuable from remaining Convertible Notes at $71.451
Conversion price
$71.451 per share
Fixed price for conversion of principal into common stock
Interest rate
10% per annum
Interest on Convertible Note principal since August 11, 2025
Key Terms
Convertible Note, 10-day VWAP, Interest Shares, principal amount, +1 more
5 terms
Convertible Note financial
"Principal amounts of the Convertible Notes are convertible at the holder's election"
A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.
10-day VWAP financial
"conversion price equal to a market-based price (the "10-day VWAP," as defined in the Convertible Note)"
10-day VWAP is the average price at which a stock traded over the past ten trading days, weighted by the number of shares exchanged at each price so bigger trades count more. Investors use it like a benchmark or reference line—similar to checking the average speed on a ten-day trip weighted by how long you traveled at each speed—to judge whether current prices are fair, to time trades, and to spot short-term trends or unusual activity.
principal amount financial
"On November 11, 2025, the issuer made a scheduled repayment of $1.5 million principal amount"
The principal amount is the original sum of money that is borrowed, lent, or invested before any interest, fees, or returns are added. It matters to investors because interest charges, scheduled repayments, and total return are calculated from that base amount — think of it as the price tag on which future costs or gains are built. Knowing the principal helps you compare deals and predict cash flows and risk.
convertible into financial
"The $18,500,000 principal amount of Convertible Notes outstanding immediately following the transaction was convertible into 258,919 shares"
FAQ
What did Aljomaih Automotive Co. report in this Form 4 for XOS?
Aljomaih Automotive Co. reported a scheduled repayment of $1.5 million principal on a Xos Convertible Note. The note principal was repaid and extinguished at face value, reducing the outstanding convertible principal while leaving a larger balance still outstanding and convertible into common stock.
What Convertible Note balance remains outstanding for Aljomaih with Xos (XOS)?
After the transaction, $18,500,000 principal of Xos Convertible Notes remained outstanding. That remaining principal is convertible into 258,919 shares of common stock at the same $71.451 conversion price, providing ongoing potential equity exposure for the noteholder.
At what rate does interest accrue on the Xos Convertible Note held by Aljomaih?
Interest on the Xos Convertible Note accrues at 10% per annum. Accrued interest since August 11, 2025 can be settled in shares, using a market-based 10-day VWAP conversion price, subject to limitations that may instead require cash payment after specified dates or approvals.
How can interest on the Xos (XOS) Convertible Note be paid to Aljomaih Automotive Co.?
Accrued interest on the Xos Convertible Note may be paid in common shares called Interest Shares. These shares are valued using a 10-day VWAP on the payment date, but certain limits may cap share issuance and require excess interest to be paid in cash after defined trigger dates.
What conversion rights does Aljomaih have on the remaining Xos Convertible Notes?
Aljomaih can elect to convert remaining Xos Convertible Note principal into common stock at $71.451 per share. This right applies after November 9, 2022, with accrued interest also potentially convertible into Interest Shares, subject to limits and possible cash payments if those limits are exceeded.
AI-generated analysis. How Rhea-AI works. Not financial advice.
