HUFF CRAIG A 4
4 · CitroTech Inc. · Filed Apr 30, 2026
Research Summary
AI-generated summary of this filing
CitroTech (CITR) 10% Owner Craig Huff Converts Note into 940,799 Shares
What Happened
Craig Huff, the managing member of BoltRock Holdings LLC and a 10% owner of CitroTech (CITR), converted a senior secured convertible promissory note into 940,799 shares of CitroTech common stock on April 28, 2026, at a conversion price of $2.40 per share for a value of $2,257,918. The conversion included amounts representing accrued interest (10% per annum, payable in kind). Earlier, on April 7, 2026, the company issued the reporting person a warrant to purchase 46,250 shares at a $3.00 exercise price (five‑year term) in connection with an extension of the Note.
Key Details
- Transaction types/dates:
- Apr 28, 2026 — Conversion of convertible note into 940,799 shares at $2.40/share; value reported $2,257,918.
- Apr 07, 2026 — Receipt of a derivative (warrant) covering 46,250 shares (exercise price $3.00; five‑year term).
- Footnotes:
- F1: Note was a 10% senior secured convertible promissory note; included PIK interest; maturity extended to Apr 28, 2026.
- F2: Securities are held directly by BoltRock Holdings LLC; Craig Huff is BoltRock’s managing member and disclaims beneficial ownership except for pecuniary interest.
- F3: Warrant issued as consideration for the Note extension (46,250 shares, $3.00 exercise).
- Shares owned after the transaction: not specified in the filed Form 4.
- Filing: Form 4 filed Apr 30, 2026; dates suggest the filing was made promptly after the Apr 28 conversion.
Context
This was a debt-to-equity conversion (a derivative conversion), not an open-market purchase or sale. For retail investors: conversions reduce company debt and increase share count, and warrants give the holder the right to buy additional shares later at $3.00. As a 10% owner acting through an entity (BoltRock), this is institutional/creditor-related activity rather than routine insider buying or selling by a company executive.
Insider Transaction Report
- Conversion
Common Stock
[F1][F2]2026-04-28$2.40/sh+940,799$2,257,918→ 3,357,467 total(indirect: By LLC) - Other
Warrant
[F3][F2]2026-04-07+46,250→ 46,250 total(indirect: By LLC)Exercise: $3.00Exp: 2031-04-07→ Common Stock (46,250 underlying) - Conversion
Convertible Note
[F1][F2]2026-04-28→ 0 total(indirect: By LLC)Exercise: $2.40Exp: 2026-04-28→ Common Stock (940,799 underlying)
Footnotes (3)
- [F1]The 10% Senior Secured Convertible Promissory Note (the "Note") was convertible, in whole but not in part, into shares of Common Stock at a conversion price of $2.40 per share, based on the outstanding principal amount plus all accrued and unpaid interest, at the Reporting Person's election or automatically upon the occurrence of certain events tied to the trading price of the Common Stock. The reported amount includes shares of Common Stock issuable upon the conversion of interest accruing at a rate of 10% per annum, payable in kind. The maturity date of the Note was extended to April 28, 2026, on February 27, 2026.
- [F2]The securities are held directly by BoltRock Holdings LLC ("BoltRock"). Craig Huff is the managing member of BoltRock. Mr. Huff disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
- [F3]In connection with the extension of the Note held by the Reporting Person, the Issuer issued the Reporting Person a warrant to purchase 46,250 shares of Common Stock at an exercise price of $3.00 per share. The warrant has a five-year term commencing on its date of issuance.