Idaho Copper Corp (COPR)

Current Report Filed: 2026-04-23

Idaho Copper raised approximately $1.36 million in convertible debt financing from accredited investors, with notes convertible at $6.00/share and featuring automatic conversion at 70% of IPO price upon a national exchange listing, indicating management is preparing for potential near-term public market access.
The company issued 226,332 warrants with a $7.50 exercise price and 5-year term, plus an additional 10% warrant allotment to placement agent ThinkEquity, creating significant dilution risk if exercised and suggesting the company may need capital and market validation.
Two existing noteholders converted $102,947 of outstanding debt into the new offering on a 1:1 basis with no discount, demonstrating creditor confidence but also indicating the company may have had liquidity or refinancing pressures.
The notes bear no interest unless there is a default (then 18% per annum), with a 12-month maturity, creating a potential refinancing event within one year if the company cannot achieve an IPO or raise additional capital.

Current Report Filed: 2026-02-02

Idaho Copper Corporation filed a Certificate of Designation to create 2,500,000 shares of Series C Preferred Stock, which can be used to convert a $3 million convertible promissory note and potentially any future convertible notes.
The Series C Preferred Stock has a liquidation preference of $5 per share, entitling holders to be paid out first in the event of a liquidation, dissolution, or winding up of the company.
The Series C Preferred Stock will have voting rights equal to the number of common shares they can be converted into, allowing the preferred stockholders to have a say in corporate decisions.

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