Convertible Promissory Notes
Note converts to Series B Common Stock when the company raises a minimum of $500,000 in a qualified equity financing
Maturity Date: December 31, 2020
$5,000,000 Valuation Cap
30% Discount Rate
7% Annual Interest Rate*
Maximum ($107,000) of Convertible Promissory Notes
Minimum ($10,000) of Convertible Promissory Notes
*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below
|Company||Junto Bicycle Works, Ltd.|
|Corporate Address||1627 N 2nd St. Philadelphia PA 19122|
|Description of Business||Junto Cycle Works is an environmentally friendly, socially conscious company specializing in the design and manufacturing of electric bicycles. With a focus on propelling urban mobility and connected living, Junto will lead the US into its next age of alternative forms of transportation.|
|Type of Security Offered||Convertible Promissory Note|
|Minimum Investment Amount (per investor) ||$250|
The 10% Bonus for StartEngine Shareholders
Junto Bikes, Inc will offer a 10% bonus on the annual interest rate for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering if they invest within a 24-hour window of their campaign launch date. For example, if invest in the first 24 hours, your annual interest rate will be 7.7% instead of 7%.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
What is a Convertible Note?
A convertible note offers you the right to receive shares in Junto Bicycle Works, Ltd. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $500,000 in qualified equity financing. The highest conversion price per share is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 30% discount on the price the new investors are purchasing. You also receive 7% interest per year added to your investment.
Invest $1,000 and receive $200 discount off your Junto bike + a Junto t-shirt
Invest $2,500 and receive $500 discount off your Junto bike + a Junto t-shirt
Invest $5,000 and receive a $1,000 discount off your Junto bike + a Junto t-shirt
Invest $7,500 and receive a FREE Junto ebike + a Junto t-shirt
Invest $15,000 and receive TWO FREE Junto ebikes + a Junto t-shirt
*All perks will be delivered after the Offering is completed, and the discounts apply to any purchases on juntobikes.com.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.