AVAX ONE TECHNOLOGY LTD. (AVX): Entry into a Material Definitive Agreement
AVAX ONE TECHNOLOGY LTD. (AVX) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-10.2 3 ex10-2.htm EX-10.2 Exhibit 10.2 AMENDMENT AND WAIVER This Amendment and Waiver (this “Agreement”) is made and entered into as of August 5, 2026 (the “Effective Date”) by and between AVAX One Technology Ltd. (formerly known as AgriFORCE Growing Systems Ltd., and referred
How this was made
The 30-second read
Why it matters
The amendment adjusts the note principal, requires a near-term $1.3M partial repayment, and waives a one-time default-related breach, reducing the immediate probability of an event-of-default payment tied to that breach.
Market read
This is a concrete financing update with repayment timing and a default waiver, which can affect both credit-risk pricing and expectations for future conversion/dilution.
What to watch
Traders should focus on the full amended note terms (especially conversion mechanics and remaining principal after the partial payoff) and whether the Holder’s behavior implies future liquidity pressure.
Background
AVAX One Technology Ltd. (formerly AgriFORCE Growing Systems Ltd.) filed an 8-K for entry into a material definitive agreement amending a senior secured convertible debenture and waiving a specified breach tied to the cessation of its CEO.
Ticker impact
AVX entered an amendment and waiver to its $7.7M 5% coupon senior secured convertible debenture, including a $1.3M partial payoff and a CEO-related breach waiver.
Likely modest, two-sided reaction: credit-risk relief versus potential dilution/terms change; follow-through depends on how markets price the amended conversion and remaining note balance.
The 8-K discloses concrete covenant/default waiver and repayment amounts, but the body excerpt does not provide full amended conversion terms or the identity/terms of the Holder, limiting precision on equity dilution impact.
Market effects
Limited direct sector read-through; this is company-specific financing and covenant management rather than an industry-wide credit event.
No clear regional contagion indicated; parties and blocked-account mechanics are specific to AVX’s note.
Low global relevance; the disclosure is a private-debt amendment with no stated cross-border systemic linkage.
Counterpoint
The waiver may be viewed as a sign of governance or operational instability (CEO departure triggering a breach), which could offset any credit-risk relief.
Key entities
- issuerAVAX One Technology Ltd.
Company amending and waiving terms of its senior secured convertible debenture via an 8-K material definitive agreement.
- debt_instrument5% Coupon, 10% Original Issue Discount Senior Secured Convertible Debenture
Convertible note originally issued Oct 24, 2025, amended Aug 5, 2026, with principal adjustment and partial payoff.
- financing_structureBlocked Account (Deposit Account Control Agreement with East West Bank)
Blocked deposit account funded to secure obligations under the note and transaction documents.
