ONAR Makes $1.25M in Down Payments on Record Acquisition Deal

ONAR has made a second down payment of $250,000 toward what the company describes as the largest potential acquisition in its history, bringing total down payments to $1.25 million and extending its signing window to September 28, 2026. The move comes under a fully negotiated, signature-ready definitive purchase agreement, signaling the company's intent to close a deal backed by bridge funding from lenders participating in a proposed $15 million financing round.

The bridge funding arrangement underscores the pivotal role outside lenders are playing in keeping the acquisition timeline alive. By tapping that support to fund the latest down payment, ONAR has bought itself additional runway while it works to finalize the broader $15 million financing structure it needs to complete the transaction.

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Separately, ONAR retired another convertible note, a move that carries meaningful balance-sheet implications. The retirement cancels the warrant tied to that note and returns 6,000,000 shares to the company for cancellation — reducing potential dilution for existing shareholders and tightening the company's share structure ahead of what would be a transformative deal.

Taken together, the two developments reflect a deliberate capital strategy: securing the acquisition target with staged down payments while simultaneously cleaning up the balance sheet to strengthen ONAR's position entering the financing close. Whether the company can assemble the full $15 million before the September 2026 deadline will determine if the deal moves forward.

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